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Afternoon Note

Down Day

By Charles Payne, CEO & Principal Analyst
7/30/2021 1:39 PM

It has been a down day for the markets led by Amazon (AMZN), down $247 or 6.8%, after its disappointing earnings. It is dragging down Consumer Discretionary, which is down 1.53%. The Nasdaq is performing the worst, down 0.6%, followed by the S&500 -0.4% and the Dow -0.3%.  

Four of the eleven S&P 500 sectors are in the green.  Safe havens are leading the way, as are Materials after the Senate voted 66 in favor versus 28 against on a procedural vote to move forward the bipartisan infrastructure bill.  

Energy is the worst performing sector, despite oil being up on the day and the week.  WTI is currently trading at $73.95, up .45%.

S&P 500 Index

 

-0.40%

Communication Services XLC

 

-0.06%

Consumer Discretionary XLY

 

-1.53%

Consumer Staples XLP

+0.31%

 

Energy XLE

 

-1.88%

Financials XLF

 

-0.67%

Health Care XLV

+0.34%

 

Industrials XLI

 

-0.29%

Materials XLB

+0.30%

 

Real Estate XLRE

+0.71%

 

Technology XLK

 

-0.19%

Utilities XLU

 

-0.09%

 

Breadth is decidedly negative today, with down volume outpacing the up.  The silver lining is that there are significantly more new 52-week highs.

Market Breadth

NYSE

NASDAQ

Advancing

1,318

1,691

Declining

1,883

2,464

52 Week High

154

110

52 Week Low

23

65

Up Volume

607.22M

985.41M

Down Volume

1.34B

1.04B

Have a great weekend.


Comments
Steady...... we must be steady!

Lorin K on 7/30/2021 7:57:07 PM
 

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