The major indexes are down on weaker-than-expected retail sales — and more in Thursday’s stock market recap.
November retail sales fell 0.6% versus estimates for a 0.3% drop, indicating consumers pulled back on their spending ahead of the holiday season.
The markets are also digesting Wednesday’s latest interest rate hike from the Federal Reserve. The Fed raised rates by 0.50% while signaling a potential slowdown from the four previous 0.75% increases this year.
More concerning to investors were comments from Fed Chair Jerome Powell indicating rates will remain high for a longer period of time…
“Historical experience cautions strongly against prematurely loosening policy,” Powell said Wednesday. “I wouldn’t see us considering rate cuts until the committee is confident that inflation is moving down to 2% in a sustained way.”
In this morning’s stock market recap video, I’ll review critical support levels for the major indexes… the top three sectors right now… whether volatility levels are rising or falling… what’s next for bonds… what data the market is looking at next… my top option pick for the strongest ETF… how to navigate the current market… and why I’m not letting the bulls fool me!
Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!
The market might open at 9:30 a.m. ET…
But most pro traders are positioning themselves for the best opportunities long before then!
That’s why I record my morning outlook videos before the market opens.
And I’m going LIVE at 1 p.m. ET today, Dec. 16, with legendary trader Tom Busby to share a little-known but powerful premarket strategy — and it doesn’t cost a thing to attend!
Come see how the pros prepare to attack the market before it opens…
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.
Each Thursday, I’ll combine two of my favorite things into a big-money opportunity: options plays and ETFs. Using options, we can turn momentum analysis of a specific sector — or even an entire country’s stock market — into an actionable trade with double- or triple-digit upside potential. I’ll give you all the details you need to execute this plan.
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.