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More Turmoil in the Banking Sector, and Why I’m Excited About Bonds

by | Mar 24, 2023

The major indexes slid lower again on more banking sector concerns…

Deutsche Bank shares plummeted in Europe, while U.S.-listed shares fell about 14% in premarket trading before rising into the open on news that its credit default swaps jumped.

The moves raised investor concerns about the health of European banks and the global banking sector at large, dragging down major U.S. banks.

Bank of America Corp. (NYSE: BAC), JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Co. (NYSE: WFC) each dropped about 2%, while Citigroup Inc. (NYSE: C) fell more than 3%. The SPDR S&P Regional Banking ETF (NYSE: KRE) also lost about 2%.

In this morning’s stock market recap video, I’ll discuss whether algos are distorting this market again… why I’m excited about two- and 10-year bond action… which sectors are grossly oversold… which stocks are rallying right now… what to make of volatility and momentum levels… how to gauge the current market… plus an update on global financial turmoil!

Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!

P.S. The Only Hour of the Day You Should Care About

My good friend Chuck Hughes is about to expose one of Wall Street’s best-kept secrets…

It’s a new way to potentially get ahead of the game.

The way Wall Street invests is changing, moving all of the biggest transactions to a certain hour of the day…

And while they’ve kept this secret buried for months — even years now — Chuck and I are about to go live at 1:30 p.m. ET today, March 24, for a special presentation to pull back the curtain and reveal how the rest of us can target these Power Hour stocks.

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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 Fridays, we’ll review the week that was… We’ll discuss how our trades did, what we learned and how to apply it to next week’s trading plan, and any developing trade setups. This video will put a bow on the week. We’ll also go over winners from my different member strategies.

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 support@marketgeeks.com!

Check back each morning for the Roger Scott newsletter and the most important news and numbers in the WealthPress stock market recap.

WRITTEN BY<br>Roger Scott

Roger Scott

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