Charles Payne's Market Commentary

Afternoon Note

Wait and See

By Karina Hernandez, Senior Research Analyst
8/9/2024 1:02 PM

All major indices are slightly down so far today, with the Russell 2000 (RUT) declining the most. The RUT is currently down -0.54%.

In the treasury market, the 10-year yield gave up yesterday’s gains.

Only five out of eleven sectors are in the green so far today. The biggest winner this afternoon is Health Care (XLV), followed closely by Real Estate (XLRE). Industrials (XLK) saw the steepest decline so far today.

Market breadth is mostly even in the NYSE. There is an uptick in volume on the Nasdaq Composite which highlights the frenzied nature of investors chasing performance at the moment.

Market Breadth	NYSE	NASDAQ
Advancers	1,215	1,549
Decliners	1,536	2,374
New Highs	40	44
New Lows	45	123
Up Volume	748.5 million	1.93 billion
Down Volume	730.2 million	1.34 billion

Feels like more of the same kind of wait-and-see into the CPI report this week.

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