Afternoon Note
The market is mixed this afternoon, and is rebounding from the worst 3-day selloff since 2020. It seems the sentiment of people buying is still not there; however, volatility remains here. In midday trading, the Dow Jones gained 111.3 points, the S&P 500 increased 39 points while Nasdaq is gaining 259 points.
This morning, President Biden delivered a speech to discuss his plan to fight inflation. This was not the best Biden’s speech in both content and delivery. Among other things, the President regurgitates the same old dry and devise excuses for presiding over harshest inflation felt in four decades.
Six out of the eleven sectors are in the green, including top-weighted technology. Apple (AAPL) and Microsoft are holding onto gains as yields decrease for the second day in a row.
S&P 500 Index |
+1.00% |
|
Communication Services XLC |
+1.68% |
|
Consumer Discretionary XLY |
+0.77% |
|
Consumer Staples XLP |
-0.32% |
|
Energy XLE |
+0.35% |
|
Financials XLF |
-0.31% |
|
Health Care XLV |
+0.78% |
|
Industrials XLI |
+0.02% |
|
Materials XLB |
-0.00% |
|
Real Estate XLRE |
-0.88% |
|
Technology XLK |
+2.83% |
|
Utilities XLU |
-1.10% |
The retreat in the ten-year is a welcome sign.
All eyes on CPI report tomorrow.
Let’s not force the issue here.
Tweet |
5/16/2022 1:09 PM | Quiet Accumulation |
5/16/2022 9:44 AM | Sell The Rip? |
5/13/2022 1:15 PM | Right Direction |
5/13/2022 9:45 AM | ON THE WATERFRONT |
5/12/2022 1:19 PM | Volatile See-Saw Session |
5/12/2022 9:13 AM | PUSHING LAWS OF PHYSICS |
5/11/2022 1:21 PM | Long Term Endeavor |
5/11/2022 9:49 AM | YOU’LL BE A WITNESS |
5/10/2022 2:12 PM | Still Not There |
5/10/2022 9:34 AM | THIS IS SPARTA! |
5/9/2022 1:36 PM | Difficult Session |
5/9/2022 9:59 AM | BY ITS FINGERNAILS |
5/8/2022 9:28 AM | Payne's Perspective: May 9, 2022: Stay in the Fight |
5/6/2022 1:20 PM | Still Struggling |
5/6/2022 9:40 AM | POWELL RULES THE GALAXY |
5/5/2022 1:30 PM | No Confidence Vote |
5/5/2022 9:34 AM | POWELL RULES THE GALAXY |
5/4/2022 1:31 PM | Pins and Needles |
5/4/2022 7:58 AM | IT’S FED DAY |
5/3/2022 1:33 PM | Not Panicking or Manic |
5/3/2022 9:25 AM | HEAD FAKE? |
5/2/2022 1:07 PM | Low Manufacturing Read |
5/2/2022 9:45 AM | Waiting on the Fed |
4/29/2022 1:00 PM | Slipping Fast |
4/29/2022 7:30 AM | FUN WHILE IT LASTED |
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