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1 Sector in the Most Danger and Monday’s Huge Fed News

by | Nov 22, 2021

We have a fragmented week ahead of us due to Thanksgiving, but the markets are up as we move toward the holidays — and more in Monday’s stock market recap. 

President Joe Biden just announced he will stick with Jerome Powell as the head of the Federal Reserve. More on that market-moving news below…

As COVID continues to surge across Europe, Austria entered its fourth national lockdown with a new vaccine mandate to take effect on Feb. 1.

Shares of vaccine manufacturers Pfizer Inc. (NYSE: PFE), BioNTech SE – ADR (Nasdaq: BNTX) and Moderna Inc. (Nasdaq: MRNA) are rising after the CDC approved vaccine booster shots for all U.S. adults.

The U.S. 10-year Treasury yield is up to 1.60% this morning.

I am a bit worried about the pull/call ratio. The lows are getting lower, meaning we could be preparing for a pullback.

And I believe that pullback will be felt the most in one particular sector… Find out which in the video below!

Stock Market Recap: By the Numbers

This morning’s stock market futures recap: 

DOW (mini)

  • Close: 35,601.98.
  • Futures: 35,729.
  • Change: +180.

S&P 500 (mini)

  • Close: 4,697.96.
  • Futures: 4,715.5.
  • Change: +21.

NASDAQ (mini)

  • Close: 16,573.34.
  • Futures: 16,652.
  • Change: +77.

RUSSELL (mini)

  • Close: 2,343.16.
  • Futures: 2,365.6.
  • Change: +22.9.

Note: Updated as of 9:04 a.m. 

Roger’s Radar: The Fed Chair and a Battle of Top Chip Stocks

Biden announced around 9 a.m. EST that he will stick with Powell over Gov. Lael Brainard as the Chair of the Fed, sending futures sharply higher…

Per The New York Times: 

Mr. Biden, who will also nominate Lael Brainard, a governor, to serve as the Fed’s vice chair, said he was confident that both Mr. Powell and Ms. Brainard would work to lower prices and keep the economic recovery on track.

“I’m confident that Chair Powell and Dr. Brainard’s focus on keeping inflation low, prices stable and delivering full employment will make our economy stronger than ever before,” Mr. Biden said in a statement on Monday.

Also on my radar: a battle of semiconductor chip heavyweights is trending among Google searches, Nvidia Corp. (Nasdaq: NVDA) and Advanced Micro Devices Inc. (Nasdaq: AMD).

Per The Street: 

More easily than finding many fundamental differences between NVDA and AMD, we see more similarities between the stocks. Both companies should attract growth investors who think that the long-term opportunities in tech might be underappreciated today. The more value-conscious investor, however, will probably be discouraged by the valuation multiples in both cases.

In this morning’s stock market recap video, you’ll discover what to expect this week from the stock market… which sectors are most vulnerable to downside pressure… what market internals are pointing to right now… whether stocks are set to trend or chop… the biggest threats and opportunities… and the perfect short set up for today’s market activity. 

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! 

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To kick off the week, each Monday video will outline my weekly outlook and any actionable announcements, news or catalysts I’m watching. I’ll also outline exactly which opportunities I expect to unfold in the coming five trading days, so check out this short video for more information!

Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.

WRITTEN BY<br>Roger Scott

Roger Scott

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