Wall Street Strategies
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Afternoon Note

Great Move

By Charles Payne, CEO & Principal Analyst
10/12/2020 1:19 PM

A strong rally across the board powered by Apple (AAPL) and Amazon (AMZN) ahead of the new iPhone and Prime Day tomorrow. 

Growth names are back, leading big time, anything involving the consumer from department stores to soft drink makers are acting fantastic. Dillard’s (DDS) is the biggest winner in retail and dovetails perfectly with my thesis on owning brick-and-mortar survivors.

Almost all sectors are in the green today except for Energy. Technology and Communication Services are leading the way.   

S&P500

+1.66%

Communication Services (XLC)

+2.53%

Consumer Discretionary (XLY)

+1.60%

Consumer Staples (XLP)

+1.66%

Energy (XLE)

-0.29%

Financials (XLF)

+0.69%

Health Care (XLV)

+0.87%

Industrials (XLI)

+0.66%

Materials (XLB)

+0.48%

Real Estate (XLRE)

+0.24%

Technology (XLK)

+2.53%

Utilities (XLU)

+0.87%

 

Breadth is positive on both the NYSE and Nasdaq, new highs are ripping, and advancers are far outpacing decliners.

Issues:

NYSE

NASDAQ

Advancing

1,818

2,022

Declining

1,168

1,344

Issues at:

52 Week High

167

234

52 Week Low

9

17

Volume:

Advancing

974.6M

1.40B

Declining

675.8M

652.41M

 

Comments
Charles, Love your Fox Business Program

Liz Clark on 10/12/2020 6:09:52 PM
paris mckenzie is your new daily show idea .......the young people need to hear the positive instead of the hecklers....no matter what you want to do in life > " you can do it too " ( or something )...a nightime slot...no point in doing it during the daytime when they are doing whatever

prettydirect on 10/12/2020 6:31:01 PM
 

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