The major indexes were down before rising after the open, with all eyes on the jobs market — and more in Thursday’s stock market recap.
If Friday’s employment situation report comes in hot, it could fuel the Federal Reserve to hike rates further.
Meanwhile, earnings season begins next week, which will be another big catalyst for the markets.
In other news, OPEC and its allies agreed Wednesday to slash oil production by 2 million barrels a day, its largest supply cut since 2020. The decision comes at a time when many countries are still facing shortages due to the ongoing war between Russia and Ukraine.
In this morning’s stock market recap video, I’ll discuss how earnings will play a role in the current market cycle… what’s driving U.S. stocks right now… if the global economy is improving or getting worse… my top ETF and option pick… key resistance levels on the major indexes… plus a look at volatility and bonds to determine their next move.
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!
P.S. The Market Rallied. Did You Catch It?
Almost everyone missed the S&P 500 rally that kicked off on Monday…
But there’s one tool that didn’t… And it called the rally first thing Monday morning.
At 9:45 a.m. EDT on Monday morning, it signaled the S&P 500 was heading in one direction — up!
And right now, it’s showing a few great trades heading into the weekend!
If you want to see the trades, join New Money Crew’s Lance Ippolito for a special lunch-time trading session at 1 p.m. EDT on Thursday, Oct. 6.
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.
Each Thursday, I’ll combine two of my favorite things into a big-money opportunity: options plays and ETFs. Using options, we can turn momentum analysis of a specific sector — or even an entire country’s stock market — into an actionable trade with double- or triple-digit upside potential. I’ll give you all the details you need to execute this plan.
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.
