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Afternoon Note

Right Amount of Caution

By Charles Payne, CEO & Principal Analyst
11/29/2021 1:47 PM

All the S&P 500 sectors are higher with financials being the last to join the party after President Biden announced there was no need for lockdowns - right now.

The market has understood for a long time that we can live with the virus. We must live with it without destroying our lives with isolation, poor educational outcomes and other issues that have arisen from draconian lockdown measures.

S&P 500 Index

+1.58%

Communication Services XLC

+0.73%

Consumer Discretionary XLY

+2.23%

Consumer Staples XLP

+0.46%

Energy XLE

+1.75%

Financials XLF

+0.64%

Health Care XLV

+0.87%

Industrials XLI

+0.75%

Materials XLB

+0.91%

Real Estate XLRE

+1.78%

Technology XLK

+2.46%

Utilities XLU

+1.57%

 

It's all about growth with Tech sector +2.46% and Communication Services sector +2.23%.

Those powerful tech names are also lifting the NASDAQ big time and there is a way to go back to the record.

It is a good session with the right amount of caution, but also acknowledging the public isn't going to panic like the machines and algos did on Friday. 

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Comments
let's go Brandon!

Marc Clark on 11/29/2021 4:43:40 PM
 

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