Market Commentary
Market Sledding
By Charles Payne, CEO & Principal Analyst
7/1/2024 12:49 PM
It's been tough sledding for the market beneath the surface.
The ten-year bond yield remains higher and that's not helping the market.
There was another economic miss - manufacturing PMI moved lower.
That could be why stocks are struggling. Seven out of eleven sectors are down today, with Technology (XLK) leading the pack. Materials (XLB), Real Estate (XLRE), and Industrials (XLI) are the biggest losers so far.
It's frustrating for sure, but also informative.
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