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Afternoon Note

Cautious Optimism

By Charles Payne, CEO & Principal Analyst
8/13/2020 1:03 PM

Today’s session has shifted back into cautious optimism mode.  As such, investors are rushing back to growth stocks where they believe they have upside potential and strong support levels.

The action has the NASDAQ rocking and the S&P 500 mostly marking time above the plus/minus line.

I keep saying, the Dow Jones Industrial Average is not the stock market, and there is more proof today with the major swoon in Cisco (CSCO), which should have made a fortune with its WebEx video conference business.  It’s a shame, but that company hasn’t been the same since John Chambers got too wishy washy after the crash.

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






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