U.S. stocks opened flat Thursday’s following sharp sell-off thanks to higher-than-expected inflation data — and more in Friday’s stock market recap.
The S&P 500 and Dow are both holding above their 200-day moving averages, an important level of support, despite the market turmoil.
On the other hand, the Nasdaq 100 is trading below its 200-day moving average. If it fails to rally, it could drop lower once again. But when the Nasdaq 100 typically reaches these levels, it tends to bounce higher.
Meanwhile, earnings reports remain strong.
Under Armour Inc. (NYSE: UA) beat analysts’ estimates, causing shares to initially jump 7% before falling 2.5% premarket on concerns regarding supply chain expenses and increased shipping costs.
Shares of Zillow Group Inc. (Nasdaq: Z) also rose 13.5% premarket after the company reported a smaller-than-expected quarterly loss and higher revenue as it plans to exit the home-flipping business faster.
In this morning’s stock market recap video, you’ll learn whether stocks are set to break down or head higher… key levels for the major sectors… a review of the recent Consumer Price Index data and its impact on the bond market… which sectors are outperforming and which are lagging… plus the best way to analyze current market action.
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!
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Stock Market Recap: By the Numbers
This morning’s stock market futures recap:
DOW (mini)
- Close: 35,241.59.
- Futures: 35,136.
- Change: -3.
S&P 500 (mini)
- Close: 4,504.08.
- Futures: 4,498.5.
- Change: +1.
NASDAQ (mini)
- Close: 14,705.64.
- Futures: 14,701.5.
- Change: +0.5.
RUSSELL (mini)
- Close: 2,051.16.
- Futures: 2,050.7.
- Change: +2.2.
Note: Updated as of 9:23 a.m. EST
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!
- 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 Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.
