Wall Street Strategies
Hello! Sign in or Register


Afternoon Note

Monster Session

By Charles Payne, CEO & Principal Analyst
9/30/2020 1:44 PM

It has been an avalanche of good news beginning with yesterday’s update on consumer confidence to this morning’s ADP Employment report and herculean manufacturing data out of Chicago. In addition, we learned Pending home sales climbed 8.8% month-over-month, consensus was for a 3.2% improvement.

Pending Home Sales

United States Pending Home Sales

I don’t think the debate is weighing on the market a lot. Many polls and surveys seem to indicate that President Trump won, which might be why health care is the top performer in the S&P today.

S&P 500 Index

+1.38%

Communication Services XLC

+0.59%

Consumer Discretionary XLY

+1.59%

Consumer Staples XLP

+1.40%

Energy XLE

+0.77%

Financials XLF

+1.85%

Health Care XLV

+2.00%

Industrials XLI

+0.92%

Materials XLB

+1.68%

Real Estate XLRE

+0.71%

Technology XLK

+1.41%

Utilities XLU

+0.95%

 

Either way, it is a monster session that also includes two new IPOs that are directly listing on the exchange making it a total of four that have done so.

Hard to pick a stock of the day, but Boeing (BA) is quietly inching back to getting the 737 Max back in the air. It would be huge, even with overall demand limited because of the virus.


 

Add Your Comment


Submitted comments are subject to moderation before posting.


Home | Products & Services | Education | In The Media | Help | About Us |
Disclaimer | Privacy Policy | Terms of Use |
All Rights Reserved.