Markets are down pretty big on the heels of the latest gross domestic product report and poor forward guidance from Facebook’s parent company.
GDP for the first quarter came in at 1.6% versus expectations of 2.4%.
Things are accentuated right now because of earnings, and Meta Platforms (META) is the big story today, down about 15% premarket after reporting strong earnings with weak forward guidance.
So META is down big while Tesla (TSLA) is up nicely following terrible earnings numbers. This is exactly why trading earnings is such a crapshoot. You just never know how the market will react.
This is bad news for tech stocks…
Gold, however, could start to rally again, so I’m becoming a little more bullish there, and also in energy.
I’ll cover all that and more in this morning’s “Premarket Must Watch” video!
Roger Scott
Roger Scott Trading
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P.S. Don’t Delay, Catch This Urgent Briefing ASAP
Did you catch my urgent Big Tech seasonality surge briefings from this week?
If you missed it, you’ll want to tap the link below as soon as possible because Jack Carter and I just gave away a free option trade on our top-conviction play for the week…
And it’s the last day to get in before the suspected surge.
You see, we both have seasonality programs predicting an 8% surge after this big tech stock reports earnings…
And that’s based on over three decades of data!
I can’t reveal all my secrets in this email…
