Market Commentary
By Charles Payne, CEO & Principal Analyst
11/6/2020 12:58 PM
The counting for the presidential election continues with razor thin margins in several states. There are still Senate races yet to be determined. Investors are taking it all in check, and while the major indices are down, the nonfarm payroll number helped stem the decline.
In October, nonfarm payroll added 638,000 jobs from 672,000 in the September. Private sector jobs increased by 906,000 from 892,000 in September.
|
Goods Producing |
Service Providing |
|
Mining +1,000 |
Retail Trade +103,700 |
|
Construction +84,000 |
Wholesale +6,400 |
|
Manufacturing +38,000 |
Transportation & Warehousing +63,200 |
|
|
Utilities -1,500 |
|
|
Information -3,000 |
|
|
Financial Activities +31,000 |
|
|
Professional & Business +208,000 |
|
|
Education & Health +57,000 |
|
|
Leisure & Hospitality +271,000 |
|
|
Other +47,000 |
The major indices are all down, but not significantly, especially after the last few sessions of gains. The S&P 500 is mixed, with the safety trade back on, while Energy underperforms.
|
S&P 500 Index |
-0.08% |
|
|
Communication Services XLC |
-0.31% |
|
|
Consumer Discretionary XLY |
-0.50% |
|
|
Consumer Staples XLP |
+0.32% |
|
|
Energy XLE |
-1.22% |
|
|
Financials XLF |
-0.30% |
|
|
Health Care XLV |
+0.30% |
|
|
Industrials XLI |
-0.06% |
|
|
Materials XLB |
+0.18% |
|
|
Real Estate XLRE |
-0.25% |
|
|
Technology XLK |
+0.11% |
|
|
Utilities XLU |
+0.30% |
Have a good weekend. Stay safe and be well.
| Comments |
| THE PLAN: 1. Insist on ‘Mail-In Ballots’ due to COVID. 2. Allow early voting (up to 2 months) so that voters are not fully informed (2nd Debate). 3. Concentrate on Democratic controlled states. 4. Resist transparency - do not allow Republicans to monitor the counting of mail-in ballots; ignore Appellate Court rulings mandating such monitoring (Philadelphia). 5. Delay, delay, delay while more ballots are ‘dumped’ in some cases 100% for Biden! 6. Keep COUNTING UNTIL BODEN WINS! Tom Holcomb on 11/6/2020 3:37:53 PM |
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