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Afternoon Note

Slowly Improving

By Charles Payne, CEO & Principal Analyst
6/7/2021 1:21 PM

It is an interesting session that began with all sectors in the red, but it is slowly improving.  The fact is the action is away from the S&P 500 and blue-chip names and on stocks with large short positions and in niche industries like electric vehicles.

EV Sector

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Meanwhile, rebalancing in the Russell is sending quite a few stocks higher.  Jeffries released a list of names that should see upside and downside pressure.

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Like most major equity indices, the Russell 2000 has been ranged bound, but it acts great today.

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I’m loving the action in restaurant stocks where we have a couple of laggards.  Reopening names and niches are faring well, but so, too, are a lot of those stay as home names.

 

 


Comments
Let's eat out more!

Lorin K on 6/8/2021 10:02:07 AM
 

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