U.S. stock futures are down following last week’s inflation reports that showed sharply rising prices and higher bond yields — and more in Monday’s stock market recap.
The 10-year Treasury yield rose to 2.87%, a three-year high.
Most of the data this week pertains to the housing market — housing starts and permits, existing home sales and MBA mortgage applications. The housing market has been stable, but it remains to be seen how it’ll be affected by higher interest rates.
Bank of America, the last major bank to report earnings, came in above estimates with $0.80 per share profit on $23.33 billion in revenue.
Big companies set to report this week include Tesla Inc. (Nasdaq: TSLA), Procter & Gamble Co. (NYSE: PG) and United Airlines Holdings Inc. (Nasdaq: UAL) as earnings season continues.
In this morning’s stock market recap video, you’ll discover the major earnings scheduled for Monday… key turning points for the major indices… which sectors are breaking out… how to trade volatility right now… an update on bonds and the impact of long bonds on stocks… plus the top sector and top stocks to watch 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!
P.S. There’s a Right Way and a Wrong Way to Trade Volatility
The secret to finding the strongest companies in the market right now is in what I call the “Super Stocks.”
Our biggest winners were selected by cutting all the dead weight out of the market, and then focusing only on the strongest names left standing.
That’s exactly what we do with my “Super Stocks” strategy.
And I have a special video on how this algorithmic strategy works…
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.
Stock Market Recap: By the Numbers
This morning’s stock market futures recap:
DOW (mini)
- Close: 34,451.23.
- Futures: 34,337.
- Change: -21.
S&P 500 (mini)
- Close: 4,392.59.
- Futures: 4,380.
- Change: -7.5.
NASDAQ (mini)
- Close: 13,893.22.
- Futures: 13,862.
- Change: -31.75.
RUSSELL (mini)
- Close: 2,004.98.
- Futures: 1,998.4.
- Change: -3.1.
Note: Updated as of 9:26 a.m. EDT
To kick off the week, each Monday video will outline my weekly outlook and any actionable announcements, news or catalysts I’m watching. I’ll also outline exactly which opportunities I expect to unfold in the coming five trading days, so check out this short video for more information!
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 the Roger Scott newsletter and the most important news and numbers in the WealthPress stock market recap.
