We Now Know Who Will Have the Last Word at Next Week's Trump...
We Now Know What's to Blame for That 911 Outage in Massachusetts
Don't Expect to Hear From the White House Much Over the Next Week
New Research Paper Shows Which States Affected by Pollutants From East Palestine Train...
Hewitt Identifies the One Crucial Aspect About Trump Those on His VP Short...
Here's Which State Just Became the First in the Nation to Require 10...
Dr. Scott Atlas Gives It Right Back After Potshot From Fauci
AOC Has Quite the Take on How PACs Work
The Story About the Illegal Alien Who Allegedly Raped a 13-Year-Old in NYC...
New Poll: Trump Is Still Up in Key Swing States
DOJ Omits One Inconvenient Detail About the Club Q Shooter
Here’s How This California School District Trains Staff About Illegal Immigration
Biden's DOJ Went After a Doctor for Exposing Trans 'Care' for Children. Here's...
There Will Be a Price to Pay: Consequences Are Coming for Universities That...
The Transcript Is Here for Biden's Amnesty Announcement, and It Doesn't Help the...

Johnson & Johnson Announce Split

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
AP Photo/Nick Wass

Investors rotated back into Technology and mega cap growth names yesterday.

To see the chart, click here.

The session was mixed with Materials outperforming and Utilities lagging.


S&P 500 Index



Communication Services XLC



Consumer Discretionary XLY



Consumer Staples XLP



Energy XLE



Financials XLF



Health Care XLV



Industrials XLI



Materials XLB



Real Estate XLRE



Technology XLK



Utilities XLU



Breadth was positive and up volume exceeded the down.  On the Nasdaq, however, there were more new 52 lows than high.

Market Breadth









52 Week High



52 Week Low



Up Volume



Down Volume



Portfolio Approach

There are no weighting changes to our Hotline Model Portfolio.

Today’s Session

The major indices are positive but well of the highs of this morning. Johnson and Johnson (JNJ) is the latest company to announce it is splitting into two companies. The news is helping to push the Dow higher.

On the economic front, the University of Michigan U.S. consumer sentiment preliminary read of 68.8 was the lowest level in 10 years, and well below expectations for 72.4 and October’s 71.7.


To see the chart, click here.

Inflation continues to weight on consumers and the inflation expectation for next year rose to 4.9 from 4.8, albeit the 5 year was unchanged, which speaks to the transitory nature of some of the inflation.

  • Current conditions 73.2 from 77.7
  • Expectations 62.8 from 67.9

The October JOLTS (job opening and turnover report) showed the job opening declined by 191,000 to 10.4 million jobs opening in October from September.  The number was a disappointment as expectations was for a decline to 10.3 million.  We will have more in the afternoon note.

Join the conversation as a VIP Member


Trending on Townhall Videos