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Afternoon Note

Struggling for Direction

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



Communication Services XLC



Consumer Discretionary XLY



Consumer Staples XLP



Energy XLE



Financials XLF



Health Care XLV



Industrials XLI



Materials XLB



Real Estate XLRE



Technology XLK



Utilities XLU




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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