Charles Payne's Market Commentary

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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:

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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