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Market Shows BIG Red Flags Heading Into the December Fed Meeting

by | Nov 28, 2022

The major indexes are down Monday morning following unrest in China due to the country’s COVID-19 restrictions — and more in Monday’s stock market recap.

The news pulled down Chinese stocks and weighed on U.S. markets.

This week brings more earnings and several key data reports…

Hewlett Packard Enterprise Co. (NYSE: HPE), Salesforce Inc. (NYSE: CRM) and The Kroger Co. (NYSE: KR) report earnings on Tuesday, Wednesday and Thursday, respectively.

Meanwhile, we have the consumer confidence report on Tuesday, and personal income and outlays on Thursday, which will tell us how inflation continues to impact the consumer and spending.

We also have gross domestic product on Wednesday. In my opinion, this is always the most important report. It will give us an idea of whether or not the economy is growing at the pace the Federal Reserve expects based on current interest rates.

Thursday and Friday bring jobless claims and the employment situation, respectively, two more reports the Fed uses to determine its next move in the ongoing battle against stubbornly high inflation.

In this morning’s stock market recap video, I’ll discuss why I’m getting more bearish on the broader market… whether volatility is set to rise or fall… which Fed data we need to focus on right now… which sectors continue to gain strength… what to expect from the GDP report… which index is most overbought… and why market internals are screaming “sell!”

Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!

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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.

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Stock Market Recap: By the Numbers

This morning’s stock market futures recap:

DOW (mini)

  • Close: 34,347.03.
  • Futures: 34,135.
  • Change: -221.

S&P 500 (mini)

  • Close: 4,026.12.
  • Futures: 3,998.75.
  • Change: -33.75.

NASDAQ (mini)

  • Close: 11,756.03.
  • Futures: 11,701.5.
  • Change: -81.25.

RUSSELL (mini)

  • Close: 1,869.19.
  • Futures: 1,856.
  • Change: -14.2.

Note: Updated as of 9:29 a.m. ET

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!

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!

Check back each morning for the Roger Scott newsletter and the most important news and numbers in the WealthPress stock market recap.

WRITTEN BY<br>Roger Scott

Roger Scott

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