Afternoon Note
By Charles Payne, CEO & Principal Analyst
12/21/2020 2:03 PM
The Dow is up over 400 points from its lows of the day and has pushed into the green, as banks lead after Fed Stress Test enabled buybacks. Goldman Sachs (GS) and JPMorgan (JPM) are up 7% and 5%, respectively. Other Dow components acting great is Nike (NKE) following earnings results on Friday.
As expected, Financials are the only sector in the green. Energy is underperforming, oil failed to break above the $50 level seen last week.
|
S&P 500 Index |
|
-0.73% |
|
Communication Services XLC |
|
-1.37% |
|
Consumer Discretionary XLY |
|
-1.16% |
|
Consumer Staples XLP |
|
-2.03% |
|
Energy XLE |
|
-3.86% |
|
Financials XLF |
+0.70% |
|
|
Health Care XLV |
|
-1.83% |
|
Industrials XLI |
|
-1.15% |
|
Materials XLB |
|
-1.56% |
|
Real Estate XLRE |
|
-2.20% |
|
Technology XLK |
|
-0.81% |
|
Utilities XLU |
|
-2.43% |
Breadth is negative on both the NYSE and Nasdaq, but new highs are again ripping. Volume is mixed, advancers outpaced decliners in the Nasdaq.
|
Market Breadth |
NYSE |
NASDAQ |
|
Advancing |
970 |
1,334 |
|
Declining |
2,178 |
2,344 |
|
52 Week High |
114 |
166 |
|
52 Week Low |
5 |
18 |
|
Up Volume |
823.84M |
1.61B |
|
Down Volume |
1.52B |
1.30B |
Fiscal stimulus remains in limbo, as lawmakers are expected to vote on the relief and funding bill today. Senator McConnell stated lawmakers will stay until they finish tonight. This could help support consumption in the coming months.
| Comments |
| Appreciate these updates. Paul E Monaghan on 12/21/2020 6:15:40 PM |
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