The major indexes closed up on Wednesday afternoon, looked set to open lower — and more in Thursday’s stock market recap.
And this speaks to a pattern I’ve noticed with the last four or five big reports — the U.S. economy is trying to shrug off negative information, but the global economy and in particular the European economy are having a harder time digesting the data.
The U.S. market will often trend higher following a negative report. But once the data catches up to the European market, their indexes sags, causing the U.S. market to then dip lower overnight and into the following morning.
We also have two more reports on the schedule for today — jobless claims and the Producers Price Index (PPI). Jobless claims have been within the four-week moving average, so I’m not expecting any surprises there.
The big report is the PPI. This is going to tell us how inflation is affecting producers, and might give us some indication of whether or not inflation has truly peaked…
In this morning’s stock market recap video, I’ll reveal the major support level for the Dow Jones and S&P 500… a complete analysis of the CPI numbers and impact on bonds… explain which sectors are in play and why… offer a complete road map to trade one key sector right now… what to expect from bank earnings… plus an option and strike price in my favorite sector right now!
Don’t forget to like and subscribe to our YouTube channel if you haven’t already so you can be notified as soon as we post our next video and see what other trade opportunities we’re paying close attention to!
P.S. Why I Believe You SHOULDN’T Sit on the Sidelines for the Next 49 Days
A lot of folks are running for the hills right now… And with the economy in the dumpster, I can’t really blame them…
However, I fully believe that if you sit on the sidelines over the next 49 days, you could miss out on something really, really big!
A $1.5-trillion event is coming in September… And if you think my plan is about shorting the S&P, think again!
It’s NOT about rushing into gold, commodities, bonds or crypto either… It’s all about a mathematical correlation between two stocks…
And where one stock wins, the other loses.
P.P.S. When it comes to trading, every second counts. And in choppy markets like these, often driven by headlines, stocks can make big moves in a flash.
That’s why I want you to get my latest trading ideas and market updates as fast as possible. So I’m rolling out an all-new option for my students to receive trade alerts with Telegram!
Telegram allows me to get trade ideas, videos and watchlists to you in a matter of seconds.
Check out this short article we put together with instructions on how to download telegram and access my private channel. Go here to get the details.
Stock Market Recap: By the Numbers
This morning’s stock market futures recap:
DOW (mini)
- Close: 30,772.79.
- Futures: 30,294.
- Change: -464.
S&P 500 (mini)
- Close: 3,801.78.
- Futures: 3,755.25.
- Change: -49.25.
NASDAQ (mini)
- Close: 11,728.53.
- Futures: 11,663.5.
- Change: -98.75.
RUSSELL (mini)
- Close: 1,726.04.
- Futures: 1,702.7.
- Change: -24.6.
Note: Updated as of 9:03 a.m. ET
Each Thursday, I’ll combine two of my favorite things into a big-money opportunity: options plays and ETFs. Using options, we can turn momentum analysis of a specific sector — or even an entire country’s stock market — into an actionable trade with double- or triple-digit upside potential. I’ll give you all the details you need to execute this plan.
Need help understanding some basics that we discuss frequently? Check out some of our educational pieces to help get yourself up to speed! Have a question or a topic you’d like us to explain in a future article? Send your thoughts to [email protected]!
- What Is the Dow and How Does It Work?
- A Beginner’s Guide to the Nasdaq and How to Trade It
- What Companies Make up the S&P 500 and How Can I Trade It?
- What Is the VIX? Understanding Stock Market Volatility
- A Beginner’s Guide to Stock Sector Analysis and Relative Strength
- How to Pick Winning Stocks With Simple Market Analysis Tools
Check back each morning for the Roger Scott newsletter and the most important news and numbers in the WealthPress stock market recap.
