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Afternoon Note

Another Choppy Session

By Charles Payne, CEO & Principal Analyst
1/13/2021 1:39 PM

Another day where major indices are choppy, but there is big momentum in small caps. The stock of the day is Intel (INTC), the top percentage gainer on the Dow Jones, on news that CEO Bob Swan will step down and be replaced by current VMWare, Inc. (VMW) CEO Pat Gelsinger. Back in December, Hedge Fund Titan, Dan Loeb was calling for changes. It seems he was heard.

Energy is taking a breather after posting gains in the last two session. Traditional safe haven, Utilities, are leading the broad market.

S&P 500 Index

+0.15%

 

Communication Services XLC

+0.34%

 

Consumer Discretionary XLY

 

-0.24%

Consumer Staples XLP

+0.37%

 

Energy XLE

 

-1.22%

Financials XLF

 

-0.64%

Health Care XLV

+0.21%

 

Industrials XLI

 

-0.96%

Materials XLB

 

-1.24%

Real Estate XLRE

+0.84%

 

Technology XLK

+0.64%

 

Utilities XLU

+1.67%

 
 

Market breath is decidedly negative. Decliners are outpacing advances, however; companies making new highs are blowing away new lows.

Market Breadth

NYSE

NASDAQ

Advancing

1,559

1,728

Declining

1,571

2,011

52 Week High

225

349

52 Week Low

1

5

Up Volume

860.5M

2.43B

Down Volume

1.20B

1.38B

 

CPI

December Consumer prices increased 0.4% from November, the seventh straight rise in consumer prices. The biggest increase came in fuel oil, and on the other end of the spectrum, the prices for used cars and trucks declined.

We are not forcing the issue this afternoon.  


Comments
Great Town Hall show Charles! I am concerned. Not only as a recently retiree concerned about capital gains, but also as a concerned American. I wonder how many college grads who were swayed away from capitalism via their college professors had their monster tuition bills paid by their parents. Anyway ... thanks for the Town Hall.

Mark Worley on 1/13/2021 3:05:28 PM
Thanks Mark...that is one of the great mysteries of life.  LOL CP

Charles Payne on 1/13/2021 3:49:28 PM
Great Town Hall

Kirk C Gudenau on 1/13/2021 3:42:57 PM
Man! Awesome Town Hall! So much information packed into a short amount of time. In my opinion, the guy from Goya is very intelligent. I just wish some members of congress would actually listen to him.
Keep it up playa


Steve M on 1/13/2021 3:43:44 PM
Thanks Steve I must say Bob does not run away from his core beliefs.  CP

Charles Payne on 1/13/2021 3:47:42 PM
 

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