Afternoon Note
By Charles Payne, CEO & Principal Analyst
6/24/2021 1:38 PM
The markets started in the green and have not looked back. All the major indices are rocking. The Dow is leading, up 1%, up over 300 points, followed by the Russell 2000, Nasdaq and the S&P500. President Biden announced that an infrastructure deal has been struck with a bipartisan group of Senators. The President will speak within the next hour to discuss more details of the deal.
Yields are also helping with the 10-year trading at 1.49%.
Investors are buying big cap growth names. Tesla’s (TSLA) is continuing its assent higher, up over 6% on the day. Of the FAANG stocks, Apple (AAPL) and Amazon (AMZN) are the only names in the red. Chips stocks are also catching a bid, and Nvidia (NVDA) is up almost 2%.
Communications Services remains the best performer while safe havens Real Estate and Utilities lag.
|
S&P 500 Index |
-0.58% |
|
|
Communication Services XLC |
+0.89% |
|
|
Consumer Discretionary XLY |
+0.83% |
|
|
Consumer Staples XLP |
+0.37% |
|
|
Energy XLE |
+0.42% |
|
|
Financials XLF |
+0.79% |
|
|
Health Care XLV |
+0.59% |
|
|
Industrials XLI |
+0.29% |
|
|
Materials XLB |
+0.33% |
|
|
Real Estate XLRE |
-0.70% |
|
|
Technology XLK |
+0.75% |
|
|
Utilities XLU |
-0.30% |
Breadth is positive with advancers leading by almost 2-1 decliners, and up volume is up close to 3-1 the down volume.
|
Market Breadth |
NYSE |
NASDAQ |
|
Advancing |
2,038 |
2,700 |
|
Declining |
1,192 |
1,426 |
|
52 Week High |
151 |
138 |
|
52 Week Low |
6 |
21 |
|
Up Volume |
1.35B |
1.80B |
|
Down Volume |
554.71M |
650.04M |
| Comments |
| Charles I loved your intro show today about the retail investor. There are so many of us out there. We believe in the market. The more wall street insults us the more I want to prove my stock picks are done with research and conviction. I started off about 5 years ago by just googling what all the terms meant like ETF, IPO etc. Now I read daily news on stocks and investing. Thanks for sticking up for us! Jessica on 6/24/2021 2:36:18 PM |
| Charles, That was epic! I like Davey day Trader, but you hit the nail on the head brother. It is now clearer than it has ever been, who the champion for the Apes really is! You are an American treasure sir! Don Johnson on 6/24/2021 2:46:46 PM |
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