The markets are rallying this morning on better-than-expected retail sales data — and more in Friday’s stock market recap.
Despite a hot inflation number earlier this week, Friday’s retail sales data surprised to the upside, coming in at 1% for the month of June versus the estimate of 0.9%.
Now, these numbers aren’t adjusted for inflation, which rose 1.3% on a monthly basis. Taking this into account, retail sales are thus slightly negative.
But as we discussed in Wednesday’s WealthPress Live Roundtable, the market is looking for any positive news to latch on to. So the fact that retail sales not only met expectations but exceeded them is causing the major indexes to move higher.
Aside from retail sales, we also have the report on industrial production on Friday, and earnings season continues with names like Amazon.com Inc. (Nasdaq: AMZN), Netflix Inc. (Nasdaq: NFLX), NVIDIA Corp. (Nasdaq: NVDA) and McDonald’s Corp. (NYSE: MCD) reporting.
In this morning’s stock market recap video, I’ll reveal the three sectors that are following the long bond… the biggest earnings reports to watch out for… the top sector and why… plus a global analysis and preview of next week.
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. Why I Believe You SHOULDN’T Sit on the Sidelines for the Next 49 Days
A lot of folks are running for the hills right now… And with the economy in the dumpster, I can’t really blame them…
However, I fully believe that if you sit on the sidelines over the next 49 days, you could miss out on something really, really big!
A $1.5-trillion event is coming in September… And if you think my plan is about shorting the S&P, think again!
It’s NOT about rushing into gold, commodities, bonds or crypto either… It’s all about a mathematical correlation between two stocks…
And where one stock wins, the other loses.
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: 30,630.17.
- Futures: 30,955.
- Change: +351.
S&P 500 (mini)
- Close: 3,790.38.
- Futures: 3,832.25.
- Change: +39.
NASDAQ (mini)
- Close: 11,768.4.
- Futures: 11,907.25.
- Change: +109.75.
RUSSELL (mini)
- Close: 1,707.51.
- Futures: 1,724.3.
- Change: +14.9.
Note: Updated as of 9:14 a.m. ET
On Fridays, we’ll review the week that was… We’ll discuss how our trades did, what we learned and how to apply it to next week’s trading plan, and any developing trade setups. This video will put a bow on the week. We’ll also go over winners from my different member strategies.
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.
