Afternoon Note
By Charles Payne, CEO & Principal Analyst
10/8/2021 1:58 PM
Markets are “meh” on today’s jobs numbers as investors expect the Fed to be careful with its next move. The 10-year yield is inching higher as wage gains and the unemployment rate already met the Fed’s year-end projection.
Energy continues to outperform with crude oil topping $80, the first time since 2014. Oil is poised for its seventh straight weekly gain as demand rebounds while supply remains tight.
|
S&P 500 Index |
|
-0.26% |
|
Communication Services XLC |
|
-0.10% |
|
Consumer Discretionary XLY |
|
-0.33% |
|
Consumer Staples XLP |
|
-0.04% |
|
Energy XLE |
+2.58% |
|
|
Financials XLF |
+0.44% |
|
|
Health Care XLV |
|
-0.47% |
|
Industrials XLI |
|
-0.20% |
|
Materials XLB |
|
-0.55% |
|
Real Estate XLRE |
|
-0.51% |
|
Technology XLK |
|
-0.28% |
|
Utilities XLU |
|
-0.34% |
Stop Blaming Wages
Wages are soaring in Leisure & Hospitality, an industry still struggling to recover. This is certainly crushing small restaurant owners in particular.
Markets are at the lows of the session.
Have a great weekend. Stay safe.
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