U.S. stock futures traded lower this morning after another major retailer, Target, warned that costs are rising — and more in Wednesday’s stock market recap.
Shares of Target Corp. (NYSE: TGT) were down about 25% premarket after reporting earnings, which will drag the entire sector down with it.
Believe it or not, but the iShares 20+ Year Treasury Bond (Nasdaq: TLT) has been trading sideways for the past month. If we continue to see this or the bond market finally goes higher, there’s a good chance the worst of the inflationary pressure is behind us because interest rates and bonds have an inverse relationship.
The put/call ratio — now at 1.02 — still tells me that the market is oversold and needs to bounce…
Put buyers have been outpacing call buyers but typically when we see action like this, it shifts down. We haven’t seen the put/call ratio shift down since November, which is why I’m confident that stocks aren’t going to go much lower before they head higher.
In this morning’s stock market recap video, you’ll learn whether retail sales data is going to trigger a major rally… which sector is making headway once again… whether market internals are pointing higher or lower… why the bond market is becoming choppy… whether volatility will remain high or cool off… the top stock to buy right now… and the weakest stock to sell.
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P.S. After a long, hard battle in some of the toughest stock market conditions we’ve had the past decade, I believe the white flag has finally been raised…
The worst has finally come and gone.
But if you’re standing around with your hands in your pockets and not sure what to do next… I want to help.
There’s one key market indicator that’s our saving grace right now, and I’ve decided to share everything it has to offer in my VIP Trade Room open house at 2 p.m. EDT on Wednesday, May 18.
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:
- Close: 32,654.59.
- Futures: 32,302
- Change: -279.
S&P 500 (mini)
- Close: 4,088.85.
- Futures: 4,036.5.
- Change: -48.25.
- Close: 12,564.1.
- Futures: 12,363.
- Change: -195.75.
- Close: 1,840.3.
- Futures: 1,814.6.
- Change: -22.4.
Note: Updated as of 9:24 a.m. EDT.
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.