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Afternoon Note

The Incredible Investable Stock Market

By Charles Payne, CEO & Principal Analyst
7/8/2024 1:26 PM

The stock market comes into the week still on autopilot and with one of the most intriguing rallies I’ve ever seen.  

As I was thinking about the uniqueness of the rally, I recalled the highly successful marketing campaign for eggs.

The incredible edible egg began airing in the 1970s.

I suspect if the current rally could be marketed it would be called: the incredible investable stock market.

Still anxiety is creeping in.

It’s a new day but the same script for the market as financials lead the way, but there is an interesting twist.

The Technology (XLK) leader today is Corning (GLW).

The company  upped its guidance for the quarter citing generative AI -this is good for the hype. Part of the story and the move in the stock underscores a desire to find new ‘hot’ names, even those born in the same year as Oscar Wilde. 


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