Afternoon Note
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:
- Stocks with the biggest share prices have been down the most and those with the lowest up the most.
- Stocks with the largest market caps have underperformed those with lowest caps by 7 percentage points.
- Companies with highest dividend yields are rocking versus those with lower yields.
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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