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Afternoon Note

Setting the Mood

By Charles Payne, CEO & Principal Analyst
5/24/2024 1:35 PM

Stocks are gaining ahead of the long holiday, on account of Memorial Day. The S&P 500 is on track to extend its four-week win streak to five.  

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Deckers Outdoor Corp. (DECK) is the top performer in the S&P 500 and Consumer Discretionary (XLY). DECK was recently added to the S&P 500 back in April, but I think they could have added Deckers five years earlier.  

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The latest consumer report set the mood today. The final reading was revised upwards to 69.1, from 67.4 in the preliminary reading, yet it is the lowest in five months.


Despite the sour number, traders are evenly split on whether the Fed will cut rates at its September meeting. 

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This Memorial Day weekend is a reminder that so many have sacrificed so much for our freedom and opportunities to embrace the American Dream. 

Have a great Memorial Day. 

A rate cut could only be driven by politics and not logic at this point. My bet is on BidenOptics!

JayBee on 5/27/2024 8:33:32 AM

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