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Afternoon Note

Spring in the Stock Market

By Charles Payne, CEO & Principal Analyst
3/26/2021 2:10 PM

It’s been an intriguing session that kind of reminds me of the weather.  It’s a wonderful day, and I hear it’s going to only get better over the weekend. 

The market picked up on yesterday’s weakness, but it began to drift lower as the ten-year bond yield began spiking higher.  But the atmosphere just feels so much better today.

It’s like spring is in the stock market refusing to be derailed this time.

There is a process that could be just like the way the market and investors came to stop plunging on disappoint from  Covid19 news and developments.  I think investors will digest spikes and higher overall yields better. It won’t be indifference, just a mature realization it’s going to happen, but it doesn’t have to be the end of the world.

All eyes are on the NASDAQ Composite, which climbed off the canvass just as it appeared to be down for the count – again!  A move through 13,803 would trigger more buying.

NASDAQ Composite

Money continues to pour into cyclicals, but especially Materials, ahead of the infrastructure plan unveiling.

If they don’t play politics, it could be a big deal that gets bipartisan approval. 

Right now, the street is giving it the thumbs up.  We have a lot of Materials and Industrials names. 

Enjoy the weather and have a great weekend.  Stay safe. 


Comments
Thanks Charles for all the good and excellent updates! Have a great week-end!

Lorin K on 3/26/2021 7:35:07 PM
 

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