Afternoon Note
By Charles Payne, CEO & Principal Analyst
7/26/2024 1:36 PM
All major indices are rallying today with the Dow Jones Industrial Average (DJI) leading the pack.
All sectors are in the green so far on the S&P 500. Industrials (XLI) and Communication Services (XLC) are nearly tied for the best performers. The sector underperforming is Energy (XLE).
Market breadth is decidedly positive, as up volume and advancers dwarf down volume and decliners.
|
Market Breadth |
NYSE |
NASDAQ |
|
Advancers |
2,244 |
2,847 |
|
Decliners |
517 |
1,211 |
|
New Highs |
176 |
208 |
|
New Lows |
13 |
51 |
|
Up Volume |
1.34 billion |
2.27 billion |
|
Down Volume |
287.65 million |
687.2 million |
The rally is relatively broad with green across the sector. Notably, big tech is recovering from its recent downturn.
Michigan Consumer Sentiment came in at 66.4, beating the consensus estimates of 66, but down from last month’s reading of 68.6.
Have a great weekend.
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