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Morning Commentary

MAGIC ELIXIR

By Charles Payne, CEO & Principal Analyst
10/16/2019 9:23 AM

Question of the Week

This is off the beaten path, but a monster list of nominees was released last night for the potential induction in the 2020 Rock and Roll Hall of Fame. What five would you choose?

*Pat Benatar
*Dave Matthews Band
*Depeche Mode
*The Doobie Brothers
*Judas Priest
*Kraftwerk
*MC5
*Motorhead
*Nine Inch Nails
*Notorious B.I.G.
*Rufus featuring Chaka Khan
*Soundgarden
*T. Rex
*Thin Lizzy
*Todd Rundgren
*Whitney Houston

Post your answer below.

All the major indices were higher yesterday, with the NASDAQ Composite and Russell 2000 enjoying the largest gain. The market breadth was the best it’s been in some time with three times the up volume than down volume on the NYSE and the NASDAQ.

Although 2,262 advancers dwarfed, and there were 881 decliners, there are more new lows than new highs (72 to 66) on the NASDAQ.

Strong Medicine

It turns out strong earnings is the magic elixir it has always been going back to the beginning of the stock market. That medicine made Health Care the top-performing sector yesterday, powered by earnings results from Johnson & Johnson (JNJ) and United Health (UNH).

S&P 500 Index

+1.00%

 

Communication Services (XLC)

+1.71%

 

Consumer Discretionary (XLY)

+0.88%

 

Consumer Staples (XLP)

 

-0.43%

Energy (XLE)

+0.41%

 

Financials (XLF)

+1.44%

 

Health Care (XLV)

+1.82%

 

Industrials (XLI)

+0.81%

 

Materials (XLB)

+0.70%

 

Real Estate (XLRE)

+0.08%

 

Technology (XLK)

+1.10%

 

Utilities (XLU)

 

-0.31%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Health Care could get a nice boost today after reports surfaced last night that sent shares of drug distributors surging in after-hours trading:

Apparently, an agreement is close to settling lawsuits brought by state and local governments accused of fueling the opioid epidemic. The stocks popped because this would mean closure, but it’s also because the reported terms of $18 billion paid out over 18 years isn’t a major hit to their bank accounts.  Note: there is also talk Johnson & Johnson could be a part of this settlement.

The Health Care sector has been dogged by political pressure and stodgy drug pipelines at major companies, but underlying stocks could rally by clearing two hurdles.

XLV

Consumers Sleeping like Babies & Flying the Friendly Skies

After the close, Sleep Number posted record revenue and earnings that beat the street.

United Airlines (UAL) posted strong results and raised guidance from the prior range. 

Portfolio Approach

Communication Services

Consumer Discretionary

Consumer Staples

1

3

2

Energy

Financials

Healthcare

1

2

2

Industrial

Materials

Real Estate

3

2

1

Technology

Utilities

Cash

3

0

0

 

Today's Session

This morning we got the September Retail sales report and while the numbers were some what disappointing, the prior month was revised much higher, which skews these results as the estimates are based on old data.

September 2019

M/M

Y/Y

Headline

-0.3%

+4.1%

Ex-Motor

-0.1%

+3.7%

Motor

-0.9%

+5.6%

Furniture

+0.6%

+1.1%

Electronics

+0.0%

-1.9%

Building Materials

-1.0%

+0.7%

Grocery

-0.1%

+4.0%

Health and Personal Care

+0.6%

+2.9%

Gasoline

-0.7%

-2.7%

Clothing

+1.3%

+1.5%

Sporting Goods

-0.1%

+1.5%

Department Stores

-1.4%

-6.1%

Internet

-0.3%

+12.9%

Restaurants

+0.2%

+4.9%

The major indices were already lower before the retail sales reports, and have moved a bit further down. 


Comments
Thin Lizzy

JEB on 10/16/2019 9:43:51 AM
1. Motorhead 2. Judas Priest 3. Thin Lizzy 4. Notorious BIG 5. Sound Garden

christopher voccola on 10/16/2019 10:33:46 AM
Poll: Doobie Brothers, Kraftwerk, Depeche Mode, Todd Rundgren, Whitney Houston

Mason C on 10/16/2019 10:39:49 AM
I'd have to say Elizabeth Warren, Kamala Harris, Beto O'Rourke. Bernie Sanders and Plugs(Joe Biden).

Robert Clanton on 10/16/2019 10:47:50 AM
Pretty solid list... and a nice break from BREAKING economic/political news out of Democratic Washington.

Saw Dave Matthews play at Piedmont Park in Atlanta in 2006 with Gregg Allman. I was in tenth grade and remember the vastness of the crowd. 70,000 dope heads grooving to some really good music.

Grew up in ATL, the true home of hip hop :) and I would have to put B.I.G on the list at no. 1. He changed the game. Still listen to his vinyl's today. I'm surprised Outkast wasn't on the ballot at the same time as B.I.G... "The South Got Sum' to Say!!"


Blake Fortune on 10/16/2019 11:04:18 AM
The Doobie Brothers / Judas Priest / Motorhead / T. Rex / Thin Lizzy / Todd Rundgren. Oh, was that six. Rock and Roll has always been about breaking the rules.

STEPHEN RYBACKI on 10/16/2019 12:30:52 PM
I love the oldies!

Patricia Margeson on 10/16/2019 12:36:36 PM
Pat Benetar...Doobie Brothers....Judas Priest....Depeche Mode....Dave Matthews Band (only because
you asked for 5)

Whitney, Chaka and B.I.G. are Hardly Rock n Roll

T Rex...Todd Rudgren and Thin Lizzy are too thin. Very small catalog of airplay although some very iconic songs to be sure.

Ron Layton on 10/16/2019 3:10:18 PM
Whitney Houston & Pat Benetar

Valerie Kilbourne on 10/16/2019 5:44:03 PM
The Doobie Brothers

Marsha Johnson on 10/16/2019 8:48:17 PM
Todd Rudgren, Dobbie brothers, Pat Benetar, Dave Matthews band, chaka khun

Mary Ellis on 10/19/2019 1:05:49 PM
Doobie Bros!!

Allen Young on 10/21/2019 1:20:50 AM
If you are asking me, I would only choose one: Whitney Houston, Most of the rest are weak, wanta be's

Gerald John on 10/23/2019 10:45:11 AM
Whitney Houston / The Doobie Brothers / Dave Matthews Band / Pat Benetar / Todd Rundgren

Rob Girardi on 10/29/2019 2:02:45 PM
Pat Benatar, Dave Matthews Band, The Doobie Brothers, Todd Rundgren, Whitney Houston

Steve Grubor on 11/2/2019 8:07:55 AM
This list is a slam dunk.  CP

Charles Payne on 11/2/2019 9:31:29 AM
Depeche Mode and NIN

Al Berg on 11/3/2019 10:21:11 AM
Nine Inch Nails. Charles let's talk Bitcoin & Ether

Gregory Pitchure on 11/13/2019 9:37:33 AM
Nine Inch Nails
The Notorious B.I.G.
Judas Priest
Dave Matthews Band
Soundgarden

Rajesh Kaitha on 11/14/2019 10:12:58 AM
 

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