Charles Payne's Market Commentary

Afternoon Note

Holding Breath

By Charles Payne, CEO & Principal Analyst
10/18/2023 1:31 PM

Tough sledding for the market as the ten-year yield popped over 4.90%. In addition, reactions to earnings releases have been mostly negative. Shares of J.B. Hunt Transport Services, Inc. (JBHT) are getting crushed as management admitted the freight recession is not over.

Chart

Most sectors are lower, save for Consumer Staples (The Procter & Gamble (PG) rocking) and Energy (oil).

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All eyes are on earnings after the close.

It hasn’t been great for shares of Tesla (TSLA) and Netflix (NFLX), so everyone is holding their breath.

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