The Nasdaq fell 2% premarket following disappointing earnings reports from several big tech companies — and more in Wednesday’s stock market recap.
Google parent company Alphabet Inc. Class C (Nasdaq: GOOG) missed top- and bottom-line expectations, and reported a drop in YouTube ad revenue. Meanwhile, Microsoft Corp. (Nasdaq: MSFT) beat earnings and revenue estimates, but reported weaker-than-expected cloud revenue.
The news caused both companies to drop 6% in premarket trading, pulling down other tech titans set to report this week. Meta Platforms Inc. (Nasdaq: META) and Amazon.com Inc. (Nasdaq: AMZN) fell 4% and 3.8%, respectively.
Meta reports earnings after the close on Wednesday, while Amazon and Apple Inc. (Nasdaq: AAPL) report Thursday after the close.
In this morning’s stock market recap video, I’ll discuss the biggest threats to your portfolio right now… whether the bond market is cooperating with us in the near term… whether volatility is increasing or decreasing… how to gauge stocks… which sectors are moving higher with strong momentum levels… plus which stock I’m hyper bullish on right now, and which stock I’m bearish on.
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 with you is arguably 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 my “Quantum Indicator.”
I’m so excited about this new indicator, I’m holding a special live training event at 1 p.m. EDT on Wednesday, Oct. 26, where I’ll show everyone how to install and even use the Quantum Indicator.
And the best part is… it doesn’t cost a thing to attend!
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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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:
DOW (mini)
- Close: 31,836.74.
- Futures: 31,828.
- Change: -49.
S&P 500 (mini)
- Close: 3,859.11.
- Futures: 3,843.5.
- Change: -26.75.
NASDAQ (mini)
- Close: 11,669.99.
- Futures: 11,512.5.
- Change: -201.
RUSSELL (mini)
- Close: 1,796.16.
- Futures: 1,811.3.
- Change: +10.7.
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 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.
