Afternoon Note
Equal Weight Comeback?
By Charles Payne, CEO & Principal Analyst
7/11/2024 1:25 PM
I suspect investors are leery of nonstop chasing because there has been a great reaction to the CPI report, which came below consensus.
Equal weight is crushing cap weight.
Home Sweet Home
The biggest upside movers are largely associated with housing yields coming down as well as hopes for rate cuts sooner rather than later.
Small But Mighty (today at least)
It's the best day ever for the Russell 2000 over the Russell 1000.
All eyes on bank stocks ahead of a swath of financial reports tomorrow.
The giant money center banks have been crushing it as regionals continue to go begging.
| Comments |
| Honestly, not sure any victory laps can be taken around the Core CPI numbers presented today. Nor the expectation that as a result of them past to present, will lead the Fed-R to cut rates anytime soon. Maybe a 25-basis point here or there in the future will occur. However, there are miles to go in my opinion as the Fed-R wants a sustainable M-o-M and indication around taming inflation to obtain the 2% annual goal. The Y-o-Y came down to 3.0%. If I understand this correctly and that is the goal on the Y-o-Y number, more months will be required to confirm, before anything takes place. Terry Dowler on 7/11/2024 2:19:51 PM |
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