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Afternoon Note

Bold and Big

By Charles Payne, CEO & Principal Analyst
2/5/2021 1:32 PM

With the January job’s report in the rearview mirror, the major indices are back to the races. The jobs report has added a sense of urgency to pass stimulus, as 4.7 million remain unemployed.  President Biden doesn’t seem to be deterred from going “big and bold,” and the Senate did push through a plan that should give the President the $1.9 trillion he asked for.

Meanwhile, Treasury Security Janet Yellen spoke up regarding the trading volatility of late, especially in the retail arena.  She didn’t seem terribly worried, stating, "the core infrastructure was resilient during high volatility and heavy trading volume." She added that the SEC and Commodity Futures Trading Commission are “reviewing whether trading practices are consistent with investor protection and fair and efficient markets.”

The Nasdaq and S&P500 are continuing to push higher after reaching record highs yesterday.  Materials and Energy are outperforming today, while Technology is the lone sector in the red, but just barely.  WTI is trading up again, higher by 1% to $56.80.

S&P 500 Index



Communication Services XLC



Consumer Discretionary XLY



Consumer Staples XLP



Energy XLE



Financials XLF



Health Care XLV



Industrials XLI



Materials XLB



Real Estate XLRE



Technology XLK



Utilities XLU



The U.S trade deficit in December shrunk to $66.6 billion from $69 billion in November, but it exceeded expectations for $65.7 billion.

The impact from the ongoing pandemic coupled with the continued recovery is evident in the data.

·Exports +3.4% to $190b

·Imports +1.5% to $256.6b

The trade gap in 2020 rose 17.7% to $101.9 billion, on the back of a 15.7% decline in exports and a 9.5% decline in imports. 

Have a great weekend.  Be safe and stay well. 



LARRY BOATRIGHT on 2/5/2021 2:46:36 PM
Have a nice weekend with the family Charles.

Lorin K on 2/5/2021 3:15:39 PM
I find it interesting as an Individual Investor being referred to as being in the "Retail Arena." Is there a "Wholesale Arena" that I didn't know about? Can I get a volume discount?

Love your show Charles. Keep up the great work!

Norm McMullen on 2/5/2021 5:16:30 PM
It never ends well when you spend more money than you take in.

Mike Moule on 2/6/2021 1:05:12 PM

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