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Afternoon Note

Loving the markets resolve

By Charles Payne, CEO & Principal Analyst
11/24/2021 2:15 PM

At the start of trading, it looked like we'd ease into Thanksgiving taking a few more lumps but exhibiting resolve once again.

It would be something to say the pendulum of angst shifted from fear to greed before the day was over and essentially into a four-day weekend (market is open half a day on Friday).

The major indices recouped most of their early declines and it was a nice reversal in the mega-caps.

FAANG stocks are mostly in the green, Meta Platforms, Inc. (FB +1.05%), Amazon.com, Inc. (AMZN +0.2%), Netflix, Inc. (NFLX +0.8%) while Apple is down modestly (AAPL -0.15%) and Alphabet (GOOG +0.0%).

S&P 500 Performance

Seven of the 11 S&P 500 sectors are trading lower while four are trading higher. Materials is the worst performing sector -0.69% and energy is the best performing sector +0.80%.

S&P 500 Index                

 

-0.04%

Communication Services XLC

 

-0.13%

Consumer Discretionary XLY

+0.11%

 

Consumer Staples XLP

 

-0.48%

Energy XLE

+0.80%

 

Financials XLF

 

-0.22%

Health Care XLV

 

-0.18%

Industrials XLI

 

-0.07%

Materials XLB

 

-0.69%

Real Estate XLRE

+0.78%

 

Technology XLK

+0.04%

 

Utilities XLU

 

-0.06%

The market breadth is mixed with advances outpacing decliners and lower new highs than new lows. 

Market Breadth

NYSE

NASDAQ

Advancing

1,690

2,233

Declining

1,522

2,105

52 Week High

54

47

52 Week Low

80

262

Up Volume

1.03B

1.39B

Down Volume

770.29M

1.11B

 


Comments
Charles & Cecil,
Happy Thanksgiving!
Thanks for ETSY & CAR!!
I will be getting with you guys in 2022.
Bob Hessler

Bob Hessler on 11/24/2021 6:26:15 PM
Happy T Day!!!!!!!!!!!!!!

Patrick J Pedley on 11/25/2021 11:12:12 AM
Happy Thanksgiving

Charles Trantham on 11/25/2021 2:15:14 PM
 

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