The major indexes were flat Wednesday morning as the market awaits remarks from Federal Reserve Chair Jerome Powell at 1:30 p.m. ET — and more in Wednesday’s stock market recap.
Two reports released before the market open gave mixed signals into the health of the economy.
The ADP employment report showed private companies added just 127,000 jobs for the month of November, well below consensus estimates of 190,000.
However, third-quarter gross domestic product data was revised higher to 2.9% from 2.6%, hinting that the economy was stronger than first estimated.
Powell’s Wednesday afternoon speech is expected to give insight into the central bank’s sentiment toward future interest rate increases. The Fed is scheduled to meet in December and is expected to deliver a 0.50% rate hike, but chances for a 0.75% hike are rising.
In this morning’s stock market recap video, I’ll discuss what today’s Fed data means and why… the biggest vulnerability in the market right now… where I see bonds trading in the near term… an update on the global economy… why volatility is spiking and what to expect next… my top stock and sector for this crazy market cycle… plus the weakest stock and three sectors to sell!
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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.
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!
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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 email@example.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.