Charles Payne's Market Commentary

Afternoon Note

Different Tone

By Karina Hernandez, Senior Research Analyst
3/14/2023 1:40 PM

There is a different tone today as the market reprices the possibility of the Fed to be more determined to see their tightening policy through. The latest CME FedWatch now sees a 73.1% (vs. 69.8% last week) for a 25bps rate hike next week, while and 26.9% for no hike.

Chart, box and whisker chartDescription automatically generated

Financials are changing the course today with banks rallying after dropping sharply on Monday. The hard-hit First Republic Bank (FRC) is up 46% leading the S&P 500 and Financials (XLF). Another big move comes from Meta Platforms Inc. (META) after the company announced its second round of layoffs.

Graphical user interface, tableDescription automatically generated

News of Russian fighter colliding with a US surveillance drone above the Black Sea has pared gains in the major indices.

Log In To Add Your Comment

PREVIOUS COMMENTARY

3/31/2023 1:37 PM	Leaving the Station
3/31/2023 9:37 AM	BRACING FOR INFLATION
3/30/2023 1:54 PM	Losing Some Steam
3/30/2023 9:36 AM	A FUNNY WAY OF BEING AFRAID
3/29/2023 1:37 PM	Bottom Fishers
3/29/2023 9:41 AM	TOO CALM AND COMPLACENT?
3/28/2023 1:31 PM	No Fireworks
3/28/2023 9:47 AM	TIME MACHINE RALLY
3/27/2023 1:34 PM	Holding Pattern
3/27/2023 9:59 AM	SUDDENLY, BULLISH IS WHERE IT’S AT
3/24/2023 1:25 PM	Magical
3/24/2023 10:14 AM	YELLEN’S TWO-STEP TRIPS UP THE MARKET
3/23/2023 1:14 PM	Embarrassing Snafu
3/23/2023 9:37 AM	GOVERNMENT OFFICIALS PROTESTING TOO MUCH
3/22/2023 1:23 PM	All Quiet
3/22/2023 9:42 AM	THE MOMENT OF TRUTH #1,309
3/21/2023 1:12 PM	Lots of Questions
3/21/2023 9:49 AM	WHAT’S INSIDE POWELL’S CRYSTAL BALL?
3/20/2023 1:58 PM	All Over the Place
3/20/2023 9:36 AM	FED COUNTDOWN BEGINS
3/17/2023 1:45 PM	Banks Remain Vulnerable
3/17/2023 9:54 AM	FED VS THE FED (IT’S COMPLICATED)
3/16/2023 1:27 PM	Another Crazy Day
3/16/2023 9:53 AM	THRILL RIDE
3/15/2023 1:43 PM	Economic Data Overshadowed
More commentary archives