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Afternoon Note

Market Angst Ahead of Jobs Report

By Charles Payne, CEO & Principal Analyst
6/3/2021 2:21 PM

The market has struggled all session long but off the worst levels of the session after tumbling right out the gate.

Some of the pressure from slightly higher bond yields.

Some of the high Beta names seem to be following the action in those retail favorites.

For the most part, the market is just waiting for those job numbers tomorrow.  I think it must be a beat, even though that might stoke talk of inflation.

For me, it is about the unrealized value that actually keeps getting juicer with down swoons in the aftermath of great earnings.

It's time to be cool and not panic. I like sharing our thoughts but not to conflate them with immediate decisions.

Six S&P sectors are higher after all eleven began well into the red. Watch materials and industrials as the WH and GOP come close to a real infrastructure deal just north of $1.0 trillion.

Keep your head in a swivel but do stay calm.

Thanks for the calming advice Charles.

Lorin K on 6/4/2021 10:51:23 AM

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