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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

+0.95%

 

Communication Services (XLC)

+1.01

 

Consumer Discretionary (XLY)

+0.64%

 

Consumer Staples (XLP)

+0.79%

 

Energy (XLE)

 

-0.21%

Financials (XLF)

+0.87

 

Health Care (XLV)

+1.17%

 

Industrials (XLI)

+0.60%

 

Materials (XLB)

+0.66%

 

Real Estate (XLRE)

+0.20%

 

Technology (XLK)

+1.25%

 

Utilities (XLU)

+0.84%

 
 

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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