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Morning Commentary

A “GOOD” PAUSE

By Charles Payne, CEO & Principal Analyst
4/24/2026 7:12 AM

Yesterday was another very exciting session. Although doomed out of the gate, there was never a sense of panic, except for folks' long software (IGV) names. Industrials (XLI) continue to look attractive, and semiconductors keep powering higher.

I like the way Industrials are building a base right above the 50-day moving average.

The iShares Semiconductor ETF (SOXX) has rallied 17 straight sessions and might be the most overvalued (on a short-term basis) in its history. 

Manufacturing Renaissance

Yet another measure of the manufacturing economy came in better than expected. The S&P Global US Manufacturing PMI posted 54.0 against the consensus of 52.4. So, it looks like “all systems go.”

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Retail Found Their Dancing Shoes

Taking its cue from KC and the Sunshine Band, retail investors are ready to get down. Bullish sentiment surged, as bearishness continues to retreat.

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After the Close

Intel (INTC) crushed it big time after the close, sending shares up 19%.

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