Afternoon Note
By Charles Payne, CEO & Principal Analyst
2/19/2020 1:26 PM
It’s a solid bounce in the market, even as commentators lament the tragedy of the coronavirus and focus on the short-term impact on businesses. The market is supposed to look further than the current quarter. If the bulls are wrong, they are wrong, but it’s so lame to hear these fake words of caution over and over for the last couple of years with a different reasons not to be long.
Technology is leading the pack after earnings from Analog Device (AMD) blew away consensus and all the names in the Apple (AAPL) universe are trading higher:
- QRVO
- BRCM
- MU
- INTC
- NVDA
- XLNX
Earnings from one of my favorite Permian ideas, Concho Resources (CXO) is helping the beleaguered Energy sector. I’m still getting so waxed on the stock it’s too early to entertain adding or creating new positions.
|
S&P 500 Index |
+0.55% |
|
|
Communication Services (XLC) |
+0.38% |
|
|
Consumer Discretionary (XLY) |
+0.67% |
|
|
Consumer Staples (XLP) |
+0.15% |
|
|
Energy (XLE) |
+0.81% |
|
|
Financials (XLF) |
+0.79% |
|
|
Health Care (XLV) |
+0.44% |
|
|
Industrials (XLI) |
+0.29% |
|
|
Materials (XLB) |
+0.30% |
|
|
Real Estate (XLRE) |
-0.81% |
|
|
Technology (XLK) |
+1.19% |
|
|
Utilities (XLU) |
-0.72% |
All eyes are on the Democrat debate tonight as it looks like Bernie is building insurmountable momentum. The market is just not exhibiting the fear of his potential candidacy as they when Warren’s had momentum. Maybe, the party has shifted so far left it doesn’t matter anymore.
| Comments |
| On the Astros cheating situation, the media is missing the fact that the players' union (MLBPA) demanded that the players be granted immunity in order to even cooperate with the investigation. Someone in the media should be highlighting this; and then, perhaps, appropriate punishment might be exacted on the players. It seems the public and baseball fans find the current comments from the commissioner wanting and both baseball fans and the opposing players want more stringent punishment for the cheating that was endemic in the Astros' organization. Joe Noga Joseph P. Noga on 2/19/2020 2:42:38 PM |
| Your show on FOX has turn more to political discussion than stocks and what is going on in the markets. I'm always waiting to hear what I should buy or your favorite socks at the time. Loiis Mucciolo on 2/19/2020 3:29:53 PM |
| I appreciate your comments, looking forward to your thoughts in the future. Thanks Charles DAVE JOHNSON on 2/20/2020 9:43:10 AM |
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