Afternoon Note
Intact
By Charles Payne, CEO & Principal Analyst
5/30/2024 1:36 PM
Pending home sales -7.7%m/m was a disaster, but for those rooting for rate cuts it may move the needle.
Meanwhile, the uptrend remains intact on the S&P 500.
It is all about value, as the two top sectors have compelling value propositions. Technology (XLK) was the largest laggard today, with Salesforce (CRM) reporting a miss on revenue.
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