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Afternoon Note

Goldilocks on Steroids

By Charles Payne, CEO & Principal Analyst
12/6/2019 1:28 PM

It’s not just this morning’s jobs report, but we got robust results on Consumer Sentiment, which continues to soar.

Consumer Sentiment

University of Michigan

Dec

Nov

Dec

M-M

Y-Y

2019

2019

2018

Change

Change

Index of Consumer Sentiment

99.2

96.8

98.3

+2.5%

+0.9%

Current Economic Conditions

115.2

111.6

116.1

+3.2%

-0.8%

Index of Consumer Expectations

88.9

87.3

87.0

+1.8%

+2.2%

 

Consumer Sentiment

Highlights

Only 1% mention impeachment.  Partisan Divide is a killer.  If more consumers could park their feelings for President Trump, this economy would be even higher.

Average gap between Democrats & GOP

The great news is Independents, the largest group, hold very favorable expectations, which according to the authors of the report indicate continued expansion.

Inflation expectations decreased to 2.4% for 2020 and 2.3% long term, both from 2.5%.

Message of Market

News from OPEC largely overshadowed, but it is powering energy stocks higher.  Financials are leading the way, and Industrials are higher as investors seek value. 

S&P 500 Index

+1.04%

Communication Services (XLC)

+0.57%

Consumer Discretionary (XLY)

+1.00%

Consumer Staples (XLP)

+0.68%

Energy (XLE)

+2.01%

Financials (XLF)

+1.59%

Health Care (XLV)

+0.92%

Industrials (XLI)

+1.31%

Materials (XLB)

+1.08%

Real Estate (XLRE)

+0.35%

Technology (XLK)

+1.07%

Utilities (XLU)

+0.02%

The market could meander at these levels, but the underlying fundamentals continue to improve. 

Have a great weekend. 


 

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