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Afternoon Note

Snapping Losing Streak

By Charles Payne, CEO & Principal Analyst
9/8/2023 1:35 PM

After earlier losses, the major indices are now trading in the green, and each up about a quarter of a percent. Treasury yields have backed off, which is helping the market, especially Technology and high growth.  Apple (AAPL) is getting back a bit of its recent 6.2% loss and is up about 1% on the day.  

Seven of the 11 S&P 500 sectors are in the green with Utilities leading the pack once again.  Real estate is the main laggard.

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Breadth is pretty even today, but the new lows, especially on the Nasdaq continue to outpace the new highs.

Market Breadth









New Highs



New Lows



Up Volume

819.51 million

1.12 billion

Down Volume

586.68 million

1.11 billion

Net Worth

According to the latest data on the Financial Accounts of the United States,United States, household net worth hit a record high in the second quarter, increasing by $5.5 trillion to $154.3 trillion, due in part by gains in stocks of $2.4 trillion and $2.6 trillion in real estate/house prices. Debt grew 2.7%, a bit higher than the previous quarter, but significantly lower than the pace in the prior two years.  There was a slight increase in mortgage debt of 2.8%, while nonmortgage consumer credit rose 2.3%.

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Have a great weekend.



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