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Jon Najarian, co-founder of Market Rebellion, highlights a shift in market sentiment after Wall Street received weak U.S. jobs numbers.
Najarian points out that CME Group's FedWatch tool flipped from a 72% chance of a U.S. Federal Reserve rate hike on Oct 28 to 72% odds that rates will remain unchanged. Market winners in this environment include growth tech, homebuilders, gold, utilities, and real estate investment trusts due to their higher dividend yields.
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Earlier, Najarian compared Nvidia’s $5.4 trillion market capitalization to the entire Russell 2000, noting a $2 trillion difference and diverging profit trends in the Nvidia market cap beats Russell 2000 by $2 trillion article. He has also put the spotlight on individual names including PHM, VRSK, GLW, MRVL, INTC, AMD, CRWD, and PANW ahead of an afternoon session, as covered in Jon Najarian: Focus on PHM, VRSK, GLW, MRVL, INTC, AMD, CRWD, PANW this afternoon. These observations follow Najarian’s ongoing coverage of differences in stock performance and investor interest.