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Afternoon Note

And the Last Shall Be First

By Charles Payne, CEO & Principal Analyst
8/12/2020 1:51 PM

Since August 6, the market has completely flipped the script.  Coming into today’s session:

And the biggest winners since the March 23 bottom to August 6 have underperformed the biggest laggards.

Role Reversal

Top 10%

Bottom 10%

Share Price

-2.09%

+6.04%

Market Cap

-0.55%

+6.73%

Dividend Yield

+5.37%

+1.24%

Movers Since March 23

+1.23%

+3.64%

 

Today, all sectors save Financials are looking better, as money is coming out of bonds into stocks, especially blue-chip names. Technology is the best performing sector.

 

S&P 500 Index

+1.29%

 

Communication Services (XLC)

+1.32%

 

Consumer Discretionary (XLY)

+0.94%

 

Consumer Staples (XLP)

+1.48%

 

Energy (XLE)

+0.03%

 

Financials (XLF)

 

-0.83%

Health Care (XLV)

+1.72%

 

Industrials (XLI)

+0.00%

 

Materials (XLB)

+0.39%

 

Real Estate (XLRE)

+0.95%

 

Technology (XLK)

+2.07%

 

Utilities (XLU)

+1.68%

 

Comments
The market sure likes Congress being on vacation!!

Jeannette Harmon on 8/12/2020 3:23:44 PM
I was not able to vote yesterday regarding Kamala Harris - she is part of the Silicone Valley crowd.
God help us if she is elected -

Patricia Heng on 8/13/2020 3:40:31 PM
 

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