Wall Street Strategies
Hello! Sign in or Register


Afternoon Note

Market Grappling

By Charles Payne, CEO & Principal Analyst
2/21/2020 1:58 PM

The market is grappling with a report on the service economy that was shockingly below consensus and with some concerns about the coronavirus outside of China.

The IHS Markit report on service, which saw a decline to 49.4% from 53.4%, was surprising, but it’s not the official government data. 

Stock of the Day

Deere (DE)

Note: US farm cash receipts expected to rebound higher.

The stock has been ranged bound since Jan 2018, although, the stock has made a series of highs and lows since 2009.

https://www.tradingview.com/x/ke5OhYwa/

Existing home sales

Existing home sales came in at 5,460,000 annual rate against Wall Street consensus of 5,430,000.

Y/Y Highlights

       Sales based on price

United States Existing Home Sales

The safe haven Consumer Staples, Real Estate and Utilities are in the green, with Technology get the hardest hit.

S&P 500 Index

 

-0.94%

Communication Services (XLC)

 

-1.08%

Consumer Discretionary (XLY)

 

-1.24%

Consumer Staples (XLP)

+0.30%

 

Energy (XLE)

 

-1.35%

Financials (XLF)

 

-1.05%

Health Care (XLV)

 

-0.15%

Industrials (XLI)

 

-0.37%

Materials (XLB)

 

-0.30%

Real Estate (XLRE)

+0.41%

 

Technology (XLK)

 

-1.97%

Utilities (XLU)

+0.18%

 

 


Comments
I started getting hotline alerts (wed 2/12, thurs 2/13 and fri 2/14) which was terrific and then no more. I really like getting the alerts via email, would please see that I do.
Thank you


Charles (Pete) Welch on 2/23/2020 11:41:30 AM
Pete will try to get it squared away before the open

Charles Payne on 2/23/2020 11:49:44 AM
 

Add Your Comment


Submitted comments are subject to moderation before posting.


Home | Products & Services | Education | In The Media | Help | About Us |
Disclaimer | Privacy Policy | Terms of Use |
All Rights Reserved.