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Afternoon Note

Showing Resilience

By Charles Payne, CEO & Principal Analyst
1/13/2023 1:36 PM

The Michigan Sentiment report was a beast, coming in at 64.6 from 60.7 and against consensus of 59.7. One-year inflation expectations swooned to 4.0% from 4.4%, the lowest level since April 2021.  This adds credence to notion for a soft landing.

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Consumer Discretionary (XLY), Financials (XLF) and Health Care (XLV) are the lone outperformers this afternoon.

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I'm loving the resolve of this market and if we rally into the close ahead of a three-day weekend it would speak volumes.
 

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