The markets opened higher following encouraging data on Tuesday and ahead of today’s Federal Open Market Committee meeting — and more in Wednesday’s stock market recap.
On Tuesday, we had consumer confidence data and the Redbook, a private report on retail sales. As I’ve said many times before, retail sales make up two-thirds of our economy, so they’re important numbers to pay attention to because of their ability to impact the markets.
Both reports came in better than expected, setting a positive tone for Wednesday’s retail inventories report and Thursday’s gross domestic product data.
Federal Reserve Chair Jerome Powell will also speak following the central bank’s two-day meeting Wednesday afternoon. He’s expected to signal an interest rate hike as early as March, as well as further tightening on monetary policy.
In this morning’s stock market recap video, you’ll discover how the market will interpret key Fed data… whether stocks are set to rise or fall… crucial levels for all three major indices… an update on the global economy… a deep look into sentiment indicators and volatility… what to expect from the market on Wednesday… plus my top ETF, complete with option price!
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:
- Close: 34,297.73.
- Futures: 34,490.
- Change: +307.
S&P 500 (mini)
- Close: 4,356.45.
- Futures: 4,407.75.
- Change: +58.75.
- Close: 14,149.12.
- Futures: 14,430.25.
- Change: +289.5.
- Close: 2,004.03.
- Futures: 2,027.6.
- Change: +25.7.
Note: Updated as of 9:19 a.m. EST
We’ve all been there before… You buy the dip in your favorite stock…
But then that dip turns into a correction, and then that correction turns into a crash.
Before you know it, two to three months of gains are wiped out in two or three days.
This is what we call blowing up an account… And we see new traders make this mistake all the time.
The key here is to protect yourself by using a built-in hedge…
The hedge allows you to take full advantage of all the gains, but when the market crash finally does come — you’re more protected.
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.