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Afternoon Note

American Confidence, Competence and Compassion Lifts Market

By Charles Payne, CEO & Principal Analyst
8/29/2017 1:27 PM
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I must say, I’m very impressed with the market today. I didn’t think we could erase losses established at the open, but the Dow and NASDAQ clawed into the plus column after picking up steam upon the release of Consumer Confidence. That report came in better than expected, and at the second highest rate in sixteen years. A remarkable development that reflects real improvements in our economy.

Conversely, the report also reflects real concern, even doubt, about the economy getting fuel from smart legislation as GOP leadership follies could make even easy wins elusive.

Expectations Six Months from Now

I know it’s not scientific, but I also think the market is reacting positively to America rallying around events in Texas, as we watch the brave folks in Houston put life into proper perspective.

My buy list continues to grow, and I’m champing at the bit, but I am still going to keep my powder dry until tomorrow after I get a look at the ADP employment report. As for the rally, I’m more confident it’s going to resume higher sooner rather than later- and you must be in. If you are not currently on our Hotline service, call you rep or email us at Info@wstreet.com.


 

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