Charles Payne's Market Commentary

Afternoon Note

Inflation Read Saved the Day

By Karina Hernandez, Senior Research Analyst
12/9/2022 1:43 PM

The market is catching a slight bid, as all economic data released this morning beat consensus except for the Consumer Sentiment one-year inflation expectations, which came in at 4.6% vs. 4.9% consensus.

Communication Services is the best performing this afternoon with Netflix (NFLX) the leader in the sector on the heels of this morning’s upgrade at Wells Fargo.

Market breadth is light with advancer on the NASDAQ outpacing decliners.

Market Breadth	NYSE	NASDAQ
Advancers	1,497	2,134
Decliners	1,540	2,084
New Highs	37	46
New Lows	50	164
Up Volume	1.06 billion	1.41 billion
Down Volume	702.8 million	915.6 million

With three weeks left, the Santa Claus rally remains on thin ice. Next week brings a lot of data for the Street to chew on and opportunities for upside.

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