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Afternoon Note

Big Lift

By Charles Payne, CEO & Principal Analyst
10/4/2019 1:54 PM

The major indices took off after the jobs report and haven’t looked back  and are up close to 1% on the day. All sectors are in the green higher, except for Energy, with Technology, Healthcare and Communications Services leading the way. 

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)



Fed Chair Powell will be speaking at 2, and depending on what he says, the markets could get an even bigger lift. For now the major indices are up:

On the economic front, according the U.S. Bureau of Economic Analysis (BEA), the U.S. monthly international good and services trade deficit increased in August 2019 from $54.0 billion in July (revised) to $54.9 billion in August, as imports rose more than exports. The goods deficit increased $0.8 billion in August to $74.4 billion, while the services surplus decreased less than $0.1 billion in August to $19.5 billion.


The average goods and services deficit declined $0.3 billion to $54.8 billion for the three months ending in August.

Year-over-year, the average goods and services deficit rose $3.2 billion from the three months ending in August 2018.



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