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Afternoon Note

Coinbase IPO Buzz

By Charles Payne, CEO & Principal Analyst
4/13/2021 1:44 PM

It is another very cautious market, but tech is trying to pick up momentum.  Lots of intrigue as the strength in utilities points to general anxiety. Weakness in financials point to less confidence that big banks will blow away Wall Street consensus as they kick off earning season tomorrow morning.

Reporting Before the Open:

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




Meanwhile the amount of buzz for the Coinbase offering is off the charts. It is going to be explosive.  Some will use it as proof the end is near, while others will use it to point to a new revolutionary era in the financial world. 

I am more in the latter camp.


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