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Afternoon Note

Dejar Vu All Over Again

By Charles Payne, CEO & Principal Analyst
3/8/2023 1:57 PM

Now I know how Yogi Berra felt because this is Deja vu all over again, but I don’t see the market selling off into the close. This seesawed session has the major indices now near the lows of the session.

The needle didn’t move much after JOLTs report was published. Both openings and quits remained above pre-pandemic level. Quits continue falling, showing labor market tightness and wage-price pressures.

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Strong leadership from semiconductors and top component Apple (AAPL) are helping the tech sector this afternoon.

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The Fed’s beige book will arrive this afternoon – stay tuned.

Yesterday was the 24th anniversary of Stanley Kubrick's death. He had some many great moves that can be compared to the market.



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