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Afternoon Note

Red Letter Day

By Charles Payne, CEO & Principal Analyst
9/19/2023 1:23 PM

It's a red-letter day, as all eleven sectors are in the red with Consumer Discretionary leading the way lower for the second consecutive session. 

Solar names are dominating, and the biggest decliner is Disney (DIS). 

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The Atlanta Fed remains unchanged with its Gross Domestic Product (GDP) forecasting model.  After peaking on August 24th at 5.9%, the Fed GDPNow estimate remains at 4.9%. 

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These are the true dog days of summer as far as the market is concerned. 

Investors are waiting for Powell and Co to wrap up the FOMC gathering tomorrow and then take questions. 


The Russell looks a bit head-and- shoulders-ish (if that's a word)

neil bradie on 9/19/2023 1:43:35 PM

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