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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.


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



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)




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

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