Wall Street Strategies
Hello! Sign in or Register


Afternoon Note

More Signs of Stronger Foundation

By Charles Payne, CEO & Principal Analyst
9/6/2017 1:23 PM
Take a Free Trial
Try Charles' premium stock selection services free for 7 days. Check it out in real time! You will get actionable advice, trading ideas and email alerts.

The ISM Non-Manufacturing report out today saw the headline number at 55.3, in line with Wall Street consensus. 

Prices increased for bacon, copper, corrugated boxes, lumber and steel products.  These are great signs for the overall economy and underscores why I’ve focused on materials and industrials.

The market was beginning to sag after bolting out of the gate and is now getting a boost on reports President Trump says military action with North Korea is “not first choice” and Congress passes $7.85 billion in emergency funding for Hurricane Harvey recovery (419 – 3).  Bigger hurdles remain, but Congress agreeing on anything is great news these days.

Overall there is an air of trepidation and worry on several fronts, and that’s healthy.

Rallies must be tested. 

But, keep looking beyond headlines and knee-jerk reactions.  When you know the facts, and connect the dots, you can deal with momentary lulls and pullbacks. 

 

 


 

Add Your Comment


Submitted comments are subject to moderation before posting.


Home | Products & Services | Education | In The Media | Help | About Us |
Disclaimer | Privacy Policy | Terms of Use |
All Rights Reserved.