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Afternoon Note

Tech Breather

By Charles Payne, CEO & Principal Analyst
2/17/2021 1:56 PM

The major indices are taking a breather today.  Nasdaq is the laggard, down .88%, and many of the tech darlings see profit taking. Buyers have continued to emerge, however, and the Dow has reversed course after being down 180 points and is currently in the green.  The S&P 500 is nearing the flat line after being down 0.8% earlier.

The love of Bitcoin continues and is marching higher, up 6% to $51,460.

Energy is the best performing sector yet again.  WTI is continuing its move higher, up 1.5% to $60.95.  Technology is the laggard.

S&P 500 Index

 

-0.37%

Communication Services XLC

 

-0.04%

Consumer Discretionary XLY

 

-0.08%

Consumer Staples XLP

+0.18%

 

Energy XLE

+0.71%

 

Financials XLF

+0.08%

 

Health Care XLV

+0.16%

 

Industrials XLI

 

-0.57%

Materials XLB

 

-0.40%

Real Estate XLRE

 

-0.21%

Technology XLK

 

-1.26%

Utilities XLU

 

-0.27%

Retail Sales

The consumer was out spending the latest stimulus check.  Retail sales for January grew 5.3% blowing away the consensus for an increase of 1.2%.  Ex-autos, sales were up 5.9% versus expectations of 1.0%.  Sales were up across each category.

January Monthly Sales Retail & Food Services

M/M

Y/Y

Headline

+5.3

+7.4

Motor Vehicle & Parts

+3.1

+13.0

                             Furniture                                

+12.0

+11.7

Electronics

+14.7

-3.5

Building Materials

+4.6

+19.0

Food & Beverage (at home)

+2.4

+11.8

Health & Personal Care

+1.3

+6.2

Gas Stations

+4.0

-7.8

Clothing

+5.0

-11.1

Sporting Goods

+8.0

+22.5

General Merchandise

+5.5

+5.9

Internet

+11.0

+28.7

Food & Beverage (away from home)

+6.9

-16.6

 

Other highlights month over month include:

 


Comments
Thank you Charles.

Lorin K on 2/17/2021 5:36:02 PM
 

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