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Afternoon Note

Complete Deal

By Charles Payne, CEO & Principal Analyst
9/20/2019 1:55 PM

The market had been edging higher all session, but with a sense of cautiousness.  That anxiety is now morphing into selling after President Trump said he was looking for a “complete deal” rather than piecemeal trade deal that has been suggested by China.  His comments triggered the China farm delegation to cancel its visit to American farms and announce they would be returning to China sooner than planned.

There was a knee-jerk move lower in the markets, although some buyers jumped in to buy the intraday dip.

While nobody on Wall Street will officially say there will be a deal before the election, and all modelling should factor for the trade battle ensuing further, there are many that secretly think a deal happens.  President Trump says he doesn’t need a deal before the election.

Tech Weakness

The real weakness today has been in Technology sector where certain pockets have begun to look like circular firing squads.

Viewer Eyeballs

Consumer viewing has become the Wild West, creating a lot of unknowns, and that is weighing on all the players of streaming and content.

Roku (ROKU) got a sell rating and target of $60 this morning.

Netflix (NFLX) is getting hit on a cautious Wall Street note and Reed Hastings own admission starting in November “it’ll be tough competition.”

S&P 500 Index



Communication Services (XLC)



Consumer Discretionary (XLY)



Consumer Staples (XLP)



Energy (XLE)



Financials (XLF)



Health Care (XLV)



Industrials (XLI)



Materials (XLB)



Real Estate (XLRE)



Technology (XLK)



Utilities (XLU)




Charles, when if Powell going to start quantitative easing, putting the liquidity he overly reduced on president Trumps ECONOMIC growth, and dropping another .50 points should be done in October 2019. If the genius of the Fed's decision is watching data, who missed all the MONEY they have had to inject $75 billion, 4 days in a row, probably more next week. Seriously, they need to be fired! Listen to our president Trump, fed screwed up USA ECONOMY in Sept 2018, it sank like a SOCIALIST Democrat in charge, and Now Powell should have the honor and respect for president Trump and independently fix their oversight raising rates, and quantitative tightening. We would have a 3.2% GDP & BE able to FINISH the trade negotiations with China with less pain for USA. Thank you Charles, you sir deserve a RAISE from FBN.

Ed on 9/20/2019 3:40:38 PM

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