Afternoon Note
By Charles Payne, CEO & Principal Analyst
1/6/2022 2:11 PM
Technology is trying to recover some ground after following yesterday’s sharp selloff. Several tech stocks continue their slide with Tesla (TSLA) and Netflix (NFLX) down about 2% each; however, other mega-cap tech stocks are rising with Meta Platforms (FB) and Google (GOOGL) up 3.3% and 1%, respectively.
Rates continue to rise, with the 10-year yield hitting 1.74% during early afternoon. The 10-year real yield (adjusted for inflation) sits at -0.77%, having moved quickly from below -1%.
Energy holds the lead again in the S&P 500, extending this week’s gains to 8.5%. Crude oil is up 1.8% at $79.30 driven by protests in OPEC member Kazakhstan, and supply outages in Libya.
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S&P 500 Index |
+0.20% |
|
|
Communication Services XLC |
+1.16% |
|
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Consumer Discretionary XLY |
-0.02% |
|
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Consumer Staples XLP |
+0.04% |
|
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Energy XLE |
+1.74% |
|
|
Financials XLF |
+1.22% |
|
|
Health Care XLV |
-0.33% |
|
|
Industrials XLI |
+0.51% |
|
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Materials XLB |
-0.89% |
|
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Real Estate XLRE |
+0.18% |
|
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Technology XLK |
-0.21% |
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Utilities XLU |
-0.30% |
ISM Services weakens
The December ISM Services index dropped to 62 from 69.1 last month. Business activity, new orders, backlogs, and supplier deliveries all fell but are still expanding. Respondents continue to struggle with inflation, supply chain issues, logistics, and labor and material shortage.
-Business Activity 67.6 vs. 74.6 prior
-New Orders 61.5 vs 69.7 prior
-Employment 54.9 vs 56.5 prior
-Suppliers Deliveries 63.9 vs 75.7 prior
All eyes on the jobs report tomorrow, which is expected to have added 422,000 jobs in December.
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| 3/18/2026 1:44 PM | Facing Pressure |
| 3/18/2026 9:43 AM | STILL TEPID |
| 3/17/2026 1:27 PM | Continued Resilience |
| 3/17/2026 9:41 AM | GREEN AHEAD OF ST PATRICKS DAY |
| 3/16/2026 1:19 PM | Green Screen |
| 3/16/2026 9:49 AM | TRADING ACTION HINTS AT MAJOR REVERSALS |
| 3/13/2026 1:40 PM | Volatility Continues |
| 3/13/2026 9:33 AM | ON DOWNWARD AUTOPILOT |
| 3/12/2026 1:35 PM | Tech Resilience Fades |
| 3/12/2026 9:40 AM | HOLDING ON, BUT STRUGGLING |
| 3/11/2026 1:19 PM | Mid-Week Movements |
| 3/11/2026 9:37 AM | COMMUNICATION GAUGE CURBS MOMENTUM |
| 3/10/2026 1:38 PM | Showing Resolve |
| 3/10/2026 9:39 AM | OIL RETREATS – STOCKS SURGE |
| 3/9/2026 1:16 PM | Opening The Hormuz Oil Spigot |
| 3/9/2026 9:34 AM | GET THE SHIPS MOVING |
| 3/6/2026 1:33 PM | Friday Fuel Frenzy |
| 3/6/2026 9:55 AM | EVERYONE WANTS THIS THING TO END SOON |
| 3/5/2026 1:31 PM | Market Struggles |
| 3/5/2026 9:40 AM | IT WAS A GOOD DAY |
| 3/4/2026 1:23 PM | Mid-Week Recovery |
| 3/4/2026 9:50 AM | MARKET NOT CLOWNING AROUND AND WANTS TO REBOUND |
| 3/3/2026 1:25 PM | Tuesday's Market Gyrations |
| 3/3/2026 10:29 AM | Message from Charles Payne |
| 3/3/2026 9:43 AM | INVESTORS JUGGLING A LOT |
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