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Afternoon Note

Exhaustion, Not Anxiety

By Charles Payne, CEO & Principal Analyst
1/10/2020 1:35 PM

The market is meandering, but it’s more from a sense of exhaustion than any kind of anxiety.   It’s been a wild year, and this was just the first full week.

The jobs report actually fits nicely in keeping the balance between an economy growing fast enough to keep the market buoyant and keeping the Fed at bay.

There is a chance the Dow Jones Industrial Average could finish higher, which would be amazing considering the weakness in Boeing (more embarrassing emails, which add no news per se, but another reason for some to sell) and the upcoming weekend. 

Overall breadth is slightly negative, but again, it could flip into the close. The most important thing is we are heading into 2020 with the right amount of steam, and I’m feeling very confident about the potential for the nation, economy and stock market.

S&P 500 Index

 

-0.01%

Communication Services (XLC)

 

-0.04%

Consumer Discretionary (XLY)

 

-0.22%

Consumer Staples (XLP)

+0.16%

 

Energy (XLE)

 

-0.34%

Financials (XLF)

 

-0.32%

Health Care (XLV)

+0.33%

 

Industrials (XLI)

 

-0.40%

Materials (XLB)

+0.05%

 

Real Estate (XLRE)

+0.71%

 

Technology (XLK)

+0.01%

 

Utilities (XLU)

+0.44%

 
Have a great weekend.

 

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