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Afternoon Note

Caution Sign

By Charles Payne, CEO & Principal Analyst
6/3/2024 1:14 PM

The market is getting raggedy.  A glitch saw several stocks including Berkshire Hathaway (BRK-A) down 99% and the early rally fizzled quickly.  

The S&P 500 is back in fear territory and economic data continues to disappoint. 


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Curious Action

Bond yields are down, oil is down, and so are stocks.  It’s a head scratcher. 


Not only are Utilities (XLU) getting hammered, but many names that made major reversals higher on Friday are back under pressure. 

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This is an unnerving session for sure.  Nothing to panic about, but we are also not dismissing it out of hand.  

There is always a message from the market and right now it’s flashing a caution sign. 


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