The major indexes rose on strong earnings reports from Nike and FedEx after the bell on Tuesday — and more in Wednesday’s stock market recap.
Nike Inc. (NYSE: NKE) beat estimates for both earnings and revenue, sending shares up about 11%.
The footwear and apparel giant also raised its outlook and confirmed progress in clearing out its excess inventory.
FedEx Corp. (NYSE: FDX) missed on revenue expectations but beat on earnings per share. The package delivery company also shared some cost-cutting plans. Shares rose about 5.6% on the news.
Earnings season continues with Micron Technology Inc. (Nasdaq: MU) reporting after the bell on Wednesday.
In this morning’s stock market recap video, I’ll reveal why I’m skeptical about Wednesday’s potential rally… why I believe Friday’s consumer sentiment data is going to be negative… which sector is showing resilience and which are sinking… an update on the bond market and what to expect next… a broad view of holiday season trading action and what you should know… plus two long stocks I like and two short stocks I’m fading!
Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!
P.S. Don’t Miss This Live Training!
With the markets so unpredictable and volatile lately, it’s been tricky to trade, even for pros.
That’s why I love my Quantum Indicator.
It allows me to quickly scan for stocks due for a pullback or bounce, signaling potential long and short trades.
And I’m going live at 1 p.m. ET TODAY, Dec. 21, to share how it works… what it’s signaling… and how it can be a great addition to any trader’s toolbox.
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 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.
