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Afternoon Note

Tech not Done

By Charles Payne, CEO & Principal Analyst
11/11/2020 1:46 PM

The major indices are higher, led by the tech-heavy Nasdaq, which is now up 1.7%. The index rebounded from previous sessions’ losses, boosted by tech shares that had been dumped earlier this week. FAANG  stocks are all up more than 1%, with Apple (AAPL) leading, +1.9%. The Dow recovered from a volatile start that sent the index down 24 points, but it is now up 87 points.

Small-cap Russell 2000 pared its gains after a two-day rally, which was driven by hopes that a return to normalcy would be on the horizon after the vaccine news from Monday. 

Energy is under pressure today, even as oil prices gain.

S&P 500 Index

+0.84%

 

Communication Services XLC

+0.74%

 

Consumer Discretionary XLY

+1.13%

 

Consumer Staples XLP

+0.94%

 

Energy XLE

 

-1.35%

Financials XLF

 

-0.52%

Health Care XLV

+0.34%

 

Industrials XLI

 

-0.77%

Materials XLB

 

-1.59%

Real Estate XLRE

+1.03%

 

Technology XLK

+2.36%

 

Utilities XLU

   

Breadth is mixed, advancers and decliners are pretty much neck and neck on the NYSE, while Nasdaq is overwhelmingly positive. Companies making new 52-week highs are blowing away new lows.

Market Breadth

NYSE

NASDAQ

Advancing

1,492

1,803

Declining

1,507

1,602

52 Week High

40

81

52 Week Low

3

5

Up Volume

787.85M

1.25B

Down Volume

1.40B

702.21M

It is a relatively quiet session as we honor our veterans. Thank you for your service to this great nation.


Comments
THANK YOU FOR YOUR SERVICE TO OUR COUNTRY CHARLES!!!!! CELEBRATING YOU TODAY!!!

Paula Caras on 11/11/2020 3:02:56 PM
Thank you so much Paula.† CP†

Charles Payne on 11/11/2020 3:06:45 PM
Thank you for your SERVICE Charles !!!

Liz Clark on 11/11/2020 3:03:27 PM
Thank you so much Liz

Charles Payne on 11/11/2020 3:05:47 PM
What do you think about DraftKings 30-60 days out ?

Angelo Kambitsis on 11/11/2020 3:08:37 PM
Not sure...they announced raising money and the stock was derailed and struggling.† We like PENN.

Charles Payne on 11/11/2020 3:14:59 PM
Charles, Thank you for your service to this great nation. Wish you and yours well.

Anita Ariail on 11/11/2020 3:17:16 PM
Thank you Charles for your service and for your financial wisdom over all these years. I was so excited when your program moved to itís current time slot before the closing bell a few years ago. Wish you could do two hours..
Cheers

Matthew Rattay on 11/11/2020 4:48:22 PM
Thanks for your service Charles on this Veterans Day.I also enjoyed the outhouse-woodshed segment on the show today. Thanks Bill Finland


Bill Finland on 11/11/2020 6:45:46 PM
Thanks so much Bill...I had fun with it for sure.† CP

Charles Payne on 11/11/2020 6:53:42 PM
Charles you are the best! And a veteran to boot!

Patricia Heng on 11/11/2020 7:43:08 PM
Thank you for your service - btw keep up the great work

Craig Hamer on 11/11/2020 8:00:53 PM
 

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