The major indexes rose as the market digested October’s jobs report data and what it means for the Federal Reserve’s future rate hikes — and more in Friday’s stock market recap.
Nonfarm payrolls came in strong at 261,000 versus 205,000 expected. However, the unemployment rate came in at the upper end of the expected range, at 3.7%.
Earnings season continued with consumer favorite Starbucks Corp. (Nasdaq: SBUX) beating on both earnings and revenue estimates. The company also revealed that store traffic in the U.S. has almost returned to pre-pandemic, 2019 levels.
And in news that heightened fears of an impending recession, Amazon.com Inc. (Nasdaq: AMZN) announced a hiring freeze. This follows the company’s warnings of a rough holiday season ahead.
In this morning’s stock market recap video, I’ll discuss which sector is most vulnerable to downside pressure… if tech has bottomed out… which sectors to avoid right now… whether bonds are set to rally or sink… if volatility is set to rise or fall… which report from the Fed is most crucial… if the Fed will raise rates 0.50% or 0.75% next round… plus the stocks I’m targeting right now!
Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!
P.S. Introducing the Quantum Indicator
What I’m about to share may be the most impactful discovery in the history of WealthPress…
On Oct. 8, 2022, an entirely new way to enter and exit trades came to life.
It’s a system that has the potential to anticipate the future direction of the stock market a full day in advance.
I call it the “Quantum Indicator.”
I’m so excited about this new indicator, I just held a special live training event where I revealed how to install and even use it.
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.
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.
