Afternoon Note
By Charles Payne, CEO & Principal Analyst
5/28/2021 2:08 PM
It’s been a steady session with technology leading the way, but its Salesforce.com (CRM)and its superstar CEO Marc Benioff and other non-FAANG+ names that are notable. I think that’s refreshing.
The most intriguing action is in real estate, which might be catching a bid based on wider reopening efforts and efforts to get folks back in the office.
|
S&P 500 Index |
+0.40% |
|
|
Communication Services XLC |
+0.27% |
|
|
Consumer Discretionary XLY |
+0.21% |
|
|
Consumer Staples XLP |
+0.40% |
|
|
Energy XLE |
-0.05% |
|
|
Financials XLF |
+0.07% |
|
|
Health Care XLV |
+0.76% |
|
|
Industrials XLI |
-0.01% |
|
|
Materials XLB |
-0.22% |
|
|
Real Estate XLRE |
+0.72% |
|
|
Technology XLK |
+0.87% |
|
|
Utilities XLU |
+0.53% |
Consumer sentiment came in about as expected, but one year inflation expectations soared to 4.6%.
|
May 2021 Consumer Sentiment |
Headline |
M/M |
Y/Y |
|
Index |
82.9 |
-6.1% |
+14.7% |
|
Current |
89.4 |
-8.0% |
+8.6% |
|
Expectations |
78.8 |
-4.7% |
+19.6% |
Still, the bond market is not budging on the news suggesting a greater acceptance of the notion these painful cost spikes will be short-lived.
I’ll keep following the bond market. I also like reactions to strong earnings. They always matter, but that doesn’t mean they always react the way that is logical or encouraging. Let the numbers do the talking not the street’s reaction.
Have a great holiday weekend.
| Comments |
| Excellent read. I'm still positive in joining you....other personalities involved in decision process. I have to circle back. (tee hee) Patrick J Pedley on 5/28/2021 2:42:33 PM |
| You also Charles, family and your staff! Go Army! Lorin K on 5/28/2021 4:34:52 PM |
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