Afternoon Note
By Charles Payne, CEO & Principal Analyst
11/12/2019 1:39 PM
The rally is on pause as investors watch President Trump deliver his speech at the New York Economic Club. Trump only made short comments on trade negotiations.
- “We are close”
- “Could happen”
- “Could happen soon”
Meanwhile, the consolidation phase of the rally continues. The Dow is struggling after Boeing (BA) announced its orders for 2019 which took a huge hit from the 737 Max debacle.
The stock of the session is Rockwell Automation (ROK) which blew away Wall Street consensus.
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S&P 500 Index |
+0.32% |
|
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Communication Services (XLC) |
+0.41% |
|
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Consumer Discretionary (XLY) |
+0.07% |
|
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Consumer Staples (XLP) |
-0.07% |
|
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Energy (XLE) |
+0.13% |
|
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Financials (XLF) |
+0.27% |
|
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Health Care (XLV) |
+0.79% |
|
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Industrials (XLI) |
+0.16% |
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Materials (XLB) |
+0.38% |
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Real Estate (XLRE) |
-0.18% |
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Technology (XLK) |
+0.44% |
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Utilities (XLU) |
+0.13% |
Overall, I like the action and think we are setting up for a big pop higher.
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