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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. 

A screenshot of a graphDescription automatically generated
 

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