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Afternoon Note

The Wrong “V”

By Charles Payne, CEO & Principal Analyst
11/25/2020 1:39 PM

For the second consecutive week, initial jobless claims came in higher than expected; 778,000 is the highest level since mid-October. This should have triggered flashing red lights on Capitol Hill.  I know it wouldn’t matter, since nobody is there, but maybe lawmakers will bump into the 20.5 million Americans receiving some form of unemployment benefits.

United States Initial Jobless Claims

This is the wrong kind of V-shape we want to see in the economy.  More importantly, those special pandemic programs are swelling up again.

Personal income swooned $130.1 billion in October as government transfer payments declined to $3.80 billion from $4.05 billion in September.  These payments peeked at $6.55 billion in April.

United States Personal Income

Despite the fact that all of today’s economic data disappointed, the market is holding up, and the NASDAQ is actually trying to get in on the new all-time high action.

Meanwhile, we could be seeing the return of takeover fever.  The team and I will be working on trying to get in front of a few potential deals.

Enjoy your Thanksgiving and try not to get arrested for having some family members come over to carve the turkey. Be well and stay safe.

Happy Thanksgiving to you and yours from Muskogee, Oklahoma.

Robb Glendening on 11/25/2020 2:35:05 PM
Thank you Robb...tell all the folks in Muskogee I said hello.  CP

Charles Payne on 11/25/2020 3:09:58 PM
Happy Thanksgiving, Charles!!

George Gottuso on 11/25/2020 3:05:54 PM
Thank you so much George and Happy Thanksgiving to you and your family as well.  CP

Charles Payne on 11/25/2020 3:16:55 PM
Happy Thanksgiving, Charles! You're the best- appreciate your spirit, smarts and professionalism always.

Tara Bach on 11/25/2020 3:20:30 PM
Happy Thanksgiving also to you and the family

Paul Roberts on 11/25/2020 4:02:52 PM
Happy Thanksgiving Charles! Thank you for all you do. Your positive attitude and wilingness to share your wisdom are a blessing. All the best to you and your family!

Sylvia Rogers on 11/25/2020 4:26:35 PM
Thanksgiving 2020

Happy thanksgiving Charles...,do love your show.

On this day of Giving Thanks I have tried to come up with that one poignant, pure, unequivocal truth that one can be thankful for.

Let us give thanks for;
Our ability to choose to love
Our families
Our friends
All of those individuals who surround us and have chosen to love us
This food that nourishes us.
The sun that warms us
The air that oxygenates us.
Our homes that shelter us
Furniture that comforts us.
Electronics that entertain us. (This was originally placed before the sun but in a flash rearranged my priorities)

But…I felt my list was still incomplete. What was it missing?

I put my pen down along with my thoughts and only then did it occur to me.

I am truly thankful and appreciate all that I have listed but truly I am most appreciative of the "ability"; and the actual doing of ruminating and pondering and attempting to discern that which I am thankful for.

A great captain of a great ship reminded the helmsman, " Laddie, keep one eye on the horizon and the other on the beauty in the waters that surround you. You will never get to where you are going unless you give attention to where you are."

So let us all give thanks for our ability to know this.

Matthew Rattay on 11/25/2020 5:22:12 PM
Amazingly powerful.  Thank you so much Matthew.   I made a pledge to myself at 18 years old to learn something new every single day.  To read something even if it was comic strips in the local newspaper.  And I hope I will never lose the ability to be amazed, marvel, love and learn.  CP

Charles Payne on 11/26/2020 8:49:26 AM
Happy thanksgiving to you and yours s
tay safe be well

Robert E RAWLINS on 11/25/2020 6:40:13 PM
Happy Thanksgiving to you, your family and everyone in your orbit!

Patricia Flynn on 11/25/2020 7:34:42 PM
Thanks so much Patricia and the same to you and your family as well.  CP

Charles Payne on 11/26/2020 8:41:50 AM
Charles - Happy Thanksgiving to you and family - and thanks for your teachings of patience and method. They work!

Allen Young on 11/26/2020 12:17:03 AM
Thank you Allen.  Happy Thanksgiving Charles Payne

Charles Payne on 11/26/2020 8:38:35 AM
Today is a day we thank God for all the blessings we have. Love, family & friends being first on the list. Thank you for all of your help you give us and for your honesty. Happy Thanksgiving to you and yours. Neva Gray

Neva L Gray on 11/26/2020 8:26:06 AM
Chas/ still the greatest. So glad you are out there for us all! bw

betty wharton on 12/1/2020 8:47:48 PM

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