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1 Long, 1 Short Trade as the Market Digests Data, Fed Remarks

by | Jan 12, 2022

Futures are up as the markets digest remarks made at Federal Reserve Chair Jerome Powell’s confirmation hearing Tuesday and in anticipation of important upcoming data — and more in Wednesday’s stock market recap.

Consumer Price Index (CPI) data came out early Wednesday morning. This number gives us an idea how the supply chain and inflationary pressures affect prices at the consumer level.

The CPI increased 7% year over year, which was in line with estimates and the biggest increase since 1982. 

Another report that has the potential to impact the market is retail sales, which comes out on Friday. Tuesday’s Redbook number, which gave us a glimpse at retail sales, was weak. But Redbook comes from the private sector, so those numbers can be a little off compared to public data. 

During his confirmation hearing, Powell reiterated that the U.S. economy is healthy enough to proceed with plans to tighten monetary policy in order to rein in inflation. 

This includes previously mentioned interest rate hikes, tapering bond purchases and reducing the Fed’s balance sheet.

As the market digests all this data, I have one long pullback stock and one short stock for you, both complete with an option and levels.

In this morning’s stock market recap video, you’ll discover whether stocks are set to rise or fall… which sector is leading stocks higher… the relationship between consumer stocks and long bonds… whether market internals are still bullish or bearish… an update on the Fed and vital reports coming out this week… plus a heat map of the leading sectors 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! 

Stock Market Recap: By the Numbers

This morning’s stock market futures recap: 

DOW (mini)

  • Close: 36,252.02. 
  • Futures: 36,262. 
  • Change: +127. 

S&P 500 (mini)

  • Close: 4,713.07. 
  • Futures: 4,728.5. 
  • Change: +23.5. 

NASDAQ (mini)

  • Close: 15,844.12. 
  • Futures: 15,972.5. 
  • Change: +141.5. 

RUSSELL (mini)

  • Close: 2,194. 
  • Futures: 2,202.3. 
  • Change: +11.3. 

Note: Updated as of 9:15 a.m. EST 

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Building on the sector analysis from Tuesday, I’ll take things a step further every Wednesday with two FREE trade alerts! I’ll identify my favorite stock in the strongest sector, and even a short opportunity from the weakest sector. That’s two trades… absolutely free… each week!

Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.

WRITTEN BY<br>Roger Scott

Roger Scott

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