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Afternoon Note

Ho-Hum Session

By Charles Payne, CEO & Principal Analyst
5/22/2020 1:41 PM

It’s been a ho-hum session, and I think that is great.  All the major indices are up nicely for the week and all in the midst of breaking out.

While the broad market has been displaying resolve, the NASDAQ Composite has been displaying spunk, and it has done so again reversing off the lows of the session to trade into positive territory.

For the broader market, upgrades on 5G players American Tower (AMT) and Crown Castle (CCI) are lifting the Real Estate sector higher, and a combination of very oversold spec names like Coty (COTY) are among the highest percentage gainers.

S&P 500 Index

 

-0.09%

Communication Services XLC

+0.11%

 

Consumer Discretionary XLY

 

-0.51%

Consumer Staples XLP

+0.17%

 

Energy XLE

 

-1.37%

Financials XLF

 

-0.55%

Health Care XLV

+0.03%

 

Industrials XLI

 

-0.47%

Materials XLB

 

-0.55%

Real Estate XLRE

+1.41%

 

Technology XLK

+0.14%

 

Utilities XLU

+0.31%

 
 
It’s still all about the nation coming back on-line.  There are lots of signs pointing to a continued rebound, including data from the TSA.

Have a safe and wonderful holiday weekend. Be safe and stay well.

 


Comments
We are looking to travel. Alas, no flights. Just sayin

Dawn on 5/22/2020 4:44:10 PM
 

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