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Afternoon Note

Market Uneasy

By Charles Payne, CEO & Principal Analyst
10/22/2024 1:18 PM

The October Philly Fed Index came in at 6.0 from -6.1 and against consensus of 4.1, the best reading since May 2022.  Future and Current Activity are higher.

The red flag came with prices paid at 35.4 (highest since February 2023) from 19.5 and prices received at 24.6 from 6.2.

Meanwhile, the ten-year bond yield (TNX) continues to move higher.

The Bloomberg Aggregate Bond Index drawdown is the longest and largest on record. 

And now stories are running rampant about US national debt as the nation’s Achilles heel.

These comments are not new, each time they arise debt is higher.

There is no panic in the market but certainly a feeling of uneasiness.


Comments
Just like Social Security and Medicare our politicians are kicking the National Debt Can down the road. The Debt is Growing just like the size and scope of our Government. It is not likely to be addressed until it is too late.

P Krueger on 10/22/2024 2:38:44 PM
I'm a long term Invester who is most interested in a company's leadership, vision present and future growth. I don't mind being a bit flat while their plan is being developed and put into action. Then follow their progress.

Jerry R. R. Spumberg on 10/22/2024 2:56:19 PM
 

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