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Market Commentary

Bottom Fishing and Window Dressing

By Charles Payne, CEO & Principal Analyst
9/29/2023 12:35 PM

I thought there would be more buying today on both ends of the spectrum.  This week has seen a fair amount of bottom fishing, and today, several beaten down names are among the biggest advances of the session.

Of course, fund managers send out quarterly statements and want to look like they are in some of the biggest winners.  This process, known as ‘window dressing,’ was abandoned last year, but it has returned in 2023. Again, I’m surprised the market is a little higher.

Strong gains in the Consumer Discretionary sector with Nike (NKE) leading. The company reported Q1 results that beat expectations.



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