Wall Street Strategies
Hello! Sign in or Register

Afternoon Note

New Highs

By Charles Payne, CEO & Principal Analyst
2/12/2024 1:44 PM

The major indices are continuing the ascent higher as the Nasdaq 100 and S&P 500 hit new highs.  All the S&P 500 sectors are higher this afternoon except for Health Care.  Energy is the top performing section.  Meanwhile, WTI is relatively flat at $77 after running up 6.3% last week. 

A green and red pie chartDescription automatically generated

Breadth is decidedly positive, especially on the NYSE where advancers led decliners almost 4.5-1.  New highs are far outpacing new lows and the up volume is like a balloon.

A screenshot of a dataDescription automatically generated

Consumer inflation expectations for the year ahead came in at 3% (a 3-year low), while the 3-year expectation fell to 2.4% from 2.6%, and the 5-year inflation expectations came in unchanged at 2.5%.  

A graph of blue barsDescription automatically generated with medium confidence

Key Components:

Investors are now looking to the CPI report tomorrow, and many are expecting pricing pressures to have eased.



Log In To Add Your Comment

Home | Products & Services | Education | In The Media | Help | About Us |
Disclaimer | Privacy Policy | Terms of Use |
All Rights Reserved.