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Afternoon Note

Rational Thinking

By Charles Payne, CEO & Principal Analyst
2/4/2020 2:03 PM

Wow, what a day!  The market looked wobbly, and the bears were circling.  More rational thinking on the coronavirus and optimism about the state of the economy sparked buying and attracted buyers that had been camped out on the sidelines. Big money is going into momentum names but also seeking value in areas like Industrials and Consumer Discretionary.

S&P 500 Index



Communication Services (XLC)



Consumer Discretionary (XLY)



Consumer Staples (XLP)



Energy (XLE)



Financials (XLF)



Health Care (XLV)



Industrials (XLI)



Materials (XLB)



Real Estate (XLRE)



Technology (XLK)



Utilities (XLU)



Talk about an eclectic mix of winners, most have been powered by earnings or a sense of being oversold.







Applied Materials Inc.



United Rentals Inc.






Textron Inc.



LAM Research Corp.



American Airlines Group Inc.



L Brands Inc.



Clorox Co.



The State of the Union

Although the nation is more divided than ever, President Trump’s approval rating has climbed to its highest level during his presidency. 

This bodes well for the market because people feel good and will continue to participate in this rally.

I like the upside, don't get me wrong, but earnings season is backwards looking reporting on the past. In my view there is ample angst from the slowdown being created by the measures taken to minimize the spread of the virus. Do you not feel this will be a big draw on the Q1 numbers? If so what is the play?

TimO on 2/4/2020 2:31:11 PM

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