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Afternoon Note

Rushing into Fabled Growth Names

By Charles Payne, CEO & Principal Analyst
8/30/2021 1:43 PM

It has turned out to be a solid session for what looked like a sleepy summer day before the open.  Investors are rushing into those fabled growth names and that has the Communication Services sector leading the pack.

Many consider these names to be tech, but they use tech to deliver services that connect people the way radio and then television did.

As long as bond yields keep drifting, particularly after that Jackson Hole speech by Fed Chair Powell, the path of least resistance is stocks in general, but growth in particular.

Interestingly, Financials and Energy are getting hit today...so the rotation game never stops. 

Let's see if we can keep this momentum going into the close. 

 


Comments
I love your comment Charles, "This ain't your mother's layaway plan!" I was fortunate to have half a block of Affirm that I purchased two weeks ago. Thanks for all your great advice!
George

George F Massey III on 8/30/2021 2:06:00 PM
Thank you Charles. I love your show. Bev

Beverly Pellegrino on 8/30/2021 3:37:39 PM
 

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