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Afternoon Note

Friday Recovery

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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