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Afternoon Note


By Charles Payne, CEO & Principal Analyst
4/16/2021 2:03 PM

Major indices saw record highs today in a mixed and tight-ranged session. However, Nasdaq is not joining the party and is trading in negative territory, as interest rates rebound.

Materials is the best performing sector in today’s session driven by strong results from PPG Industries (PPG) along with the strong housing starts/building permits numbers released this morning. Moreover, it is notable the action seeing in lumber today up 2.4% at $1,291.

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



New York’s services sector is showing signs of life. The New York Fed service-sector survey jumped to 30.2, the highest since 2006. Employment moved higher along with Capex intentions. To add, New York Mayor DiBlasio said it’s time for employees to return to the office. 


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