The major indexes are down as the market digests key earnings reports and retail sales data — and more in Wednesday’s stock market recap.
Target Corp. (NYSE: TGT) closed 4% higher Tuesday following rival Walmart Inc.’s (NYSE: WMT) earnings and revenue beat. But the retailer then gave up those gains, dropping 3% in premarket trading on an earnings miss that came in 45% below estimates.
Following up The Home Depot Inc. (NYSE: HD) earnings and revenue beat on Tuesday, Lowe’s Companies Inc. (NYSE: LOW) beat on earnings estimates but reported a slight miss on revenue, citing lower demand for discretionary items and sales to do-it-yourself customers.
Meanwhile, retail sales data remains unchanged from the previous month on the surface, but excluding vehicles and gas, the number comes in at 0.7%.
In this morning’s stock market recap video, I’ll reveal what today’s retail sales report means for the market… the biggest sector that will remain vulnerable… what to expect from the major indexes… how to interpret the Federal Reserve data right now… whether energy remains the strongest sector… the best way to trade ahead of the fall season… plus an earnings update on top retailers and chip stocks.
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!
I just went live to reveal my biggest prediction since I called the bottom of the COVID-19 crash!
Not only could this new trend affect you and your trading…
But the stars are aligning for a global crisis unlike anything the world has ever seen.
That’s why I held an urgent session to cover…
- Why billionaires are piling into one little-known sector in preparation for what might be the worst crisis yet this coming winter.
- What experts are saying about a rare 20-year supercycle.
- And why parking your money in the S&P 500 over the next few months could cause you to miss out on what could be the most explosive trading opportunities.
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.
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!
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 firstname.lastname@example.org!
- 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.