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Afternoon Note

Mixed Bag

By Charles Payne, CEO & Principal Analyst
11/8/2019 1:57 PM

The major indices are mixed but remained on track for solid weekly gains. This morning, President Trump said he hasn’t agreed to roll back import duties on China as part of a phase-one trade deal.

Brick and mortar stock took a hit today led by Gap (GPS). The retailer said its CEO will step down and announced that its fiscal year earnings will come in weaker than expected.

S&P 500 Index

+0.02% 

 

Communication Services (XLC)

+0.19%

 

Consumer Discretionary (XLY)

 

-0.07%

Consumer Staples (XLP)

 

-0.21%

Energy (XLE)

 

-0.54%

Financials (XLF)

 

0.00%

Health Care (XLV)

+0.38%

 

Industrials (XLI)

+0.02%

 

Materials (XLB)

 +0.09%

 

Real Estate (XLRE)

+0.03%

 

Technology (XLK)

 +0.08%

 

Utilities (XLU)

 

-0.50%

Perhaps the most bullish action of the week came with the 15-basis point move in the ten-year yield on Thursday, which closed at 1.92 yesterday. Today, the yield fell less than a basis point to 1.91%, after starting the week near 1.75.

 


 

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