Charles Payne: 'Absolutely on fire'

Charles Payne used a May 13 Fox Business segment to argue that the stock market’s latest advance was breaking historical patterns. In a YouTube clip titled “ABSOLUTELY ON FIRE,” Payne said investors were pushing major indexes higher even after another hot inflation reading, a setup he described several times as unprecedented. The segment ran about 12 minutes and 30 seconds on YouTube and a shorter Fox Business clip from the same program carried the line, “We’re in the midst of history right now.” May 13 trading gave Payne the raw material for that claim. The S&P 500 closed at 7,444.25, up 43.38 points, while the Nasdaq Composite finished at 26,402.34, up 314.14 points, according to market data cited by CNBC and other market trackers. The Dow Jones Industrial Average fell 66.34 points, leaving a split tape in which large technology shares carried the broader benchmarks higher. (youtube.com) ### What exactly was Payne reacting to on May 13? The Bureau of Labor Statistics had released April producer price data on May 13, one day after publishing April consumer price data. BLS said consumer prices rose 0.6% in April from the prior month and 3.8% from a year earlier, while its release calendar shows the producer price index came out on May 13. CNBC reported that traders pushed the S&P 500 to another record on May 13 even as enthusiasm for technology shares overshadowed what it called another hotter-than-expected inflation report. (cnbc.com) That combination — firmer inflation and record highs in benchmark indexes — was the backdrop for Payne’s repeated on-air line that “this has never happened before.” (bls.gov) ### Which market move did Payne say was “absolutely on fire”? Fox Business described the segment as an analysis of S&P 500 momentum and recent technology valuations on “Making Money.” The YouTube posting used the all-caps headline “ABSOLUTELY ON FIRE,” and the network’s own video page summarized the clip as Payne saying the market was in the middle of history. (cnbc.com) The Nasdaq Composite’s gain stood out. Yahoo Finance showed the index at 26,402.34 at the May 13 close, and CNBC said the S&P 500 also reached a fresh all-time high that day. Payne’s framing centered on tech leadership continuing despite inflation pressure that would typically be expected to weigh on risk assets. That last point is an inference from the market data and the segment descriptions, not a direct quote from Payne beyond his repeated “never happened before” line. (youtube.com) ### Did the broader market confirm the rally? The Dow did not. Markets Insider showed the Dow Jones Industrial Average at 49,693.20 at the May 13 close, down 67.36 points, while CNBC said a majority of stocks finished lower even as the S&P 500 rose. That divergence helps explain why Payne focused on momentum and valuations rather than a uniform advance across sectors. (markets.businessinsider.com) Fox Business had aired another Payne clip on May 12 describing the market as “blowing off some steam” after a six-week winning streak, then followed a day later with the “midst of history” segment as tech shares resumed leadership. ### Where can readers see the segment and the next data point? YouTube hosts the full May 13 clip under the title “ABSOLUTELY ON FIRE’: This has NEVER HAPPENED before, Charles Payne says,” and Fox Business carries a shorter related segment from the same date on its video pages. The Bureau of Labor Statistics lists June 10, 2026, at 8:30 a.m. Eastern for the next consumer price index release, covering May data. (fox.com) That report will give investors — and Payne — the next scheduled inflation reading after the market moves he highlighted on May 13. (bls.gov) (youtube.com)