The market stumbled on a dismal forecast from Home Depot and Tuesday afternoon’s looming debt ceiling meeting.
Home improvement retailer The Home Depot Inc. (NYSE: HD) missed on revenue expectations and cut full-year guidance, causing shares to fall 4.4%.
The latest retail sales data also came in below estimates at 0.4% versus the 0.8% expected, indicating that consumers are pulling back on spending.
Meanwhile, investors are anxiously awaiting progress on the debt ceiling debate, hoping for a resolution by June 1, the earliest date at which the U.S. could default.
In this morning’s stock market recap video, I’ll discuss Warren Buffett buying consumer bank stocks… if the Nasdaq is really making swing highs or if just a handful of stocks are moving… what the small caps and the long bond are telling traders about this market… which sector is showing tons of upside potential… which sectors I’m staying far away from… the top stocks on my radar right now… plus the stocks I’m selling short or avoiding entirely!
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Stocks are volatile and unpredictable.
Take a look at this year, last year or any year for that matter, and you’ll see what I mean.
But there is one market that’s safer and more reliable than stocks.
It’s not gold, real estate or anything like that… and it’s much larger and older than the stock market.
What is it?
Find out during trading veteran Celeste Lindman’s groundbreaking presentation at 1 p.m. ET this Wednesday, May 17!
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.
On Tuesdays, I’ll detail the strongest and weakest sectors in the entire market. I’ll tell you exactly where I’d put my money and go long, and which ones I’d avoid or even short. Using my proprietary momentum indicator, you’ll get actionable ideas on every market sector, every single Tuesday.
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 firstname.lastname@example.org!
- 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.