Afternoon Note
By Charles Payne, CEO & Principal Analyst
9/4/2019 2:04 PM
The major indices continue to climb as tensions in the U.K and Hong Kong ease. In addition, the market got a boost from New York Fed John Williams saying that the central bank will act as appropriate to sustain the current market economic expansion. The U.S. yield curve reversed with the 2-yr yield currently at 1.44%, while the 10-year yield hit 1.46%.
A few high-end retail stocks, which were rattled by large protest in Hong Kong, are gaining today. PVH (PVH) is leading the sector, rallying more than 8%.
Ten of the 11 S&P 500 are higher, with Real Estate, Consumer Staples and Utilities hitting an all-time high.
|
S&P 500 Index |
+0.94% |
|
|
Communication Services (XLC) |
+1.59% |
|
|
Consumer Discretionary (XLY) |
+0.77% |
|
|
Consumer Staples (XLP) |
+0.59% |
|
|
Energy (XLE) |
+1.57% |
|
|
Financials (XLF) |
+0.81% |
|
|
Health Care (XLV) |
-0.60% |
|
|
Industrials (XLI) |
+1.23% |
|
|
Materials (XLB) |
+0.92% |
|
|
Real Estate (XLRE) |
+0.75% |
|
|
Technology (XLK) |
+1.37% |
|
|
Utilities (XLU) |
+0.10% |
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