The markets are rallying this morning as fears concerning the omicron variant fade — and more in Tuesday’s stock market recap.
The White House has announced that omicron is less dangerous than the delta variant. This is good news for airlines and other travel stocks because countries can ease travel restrictions.
Intel rose 7.5% in pre-market trading as the chipmaker announces its plans to take autonomous driving unit Mobileye public in 2022.
And Tesla is in the process of replacing repeater cameras located in the front fenders of hundreds of its Model S, X and 3 vehicles, though it hasn’t yet issued a recall.
This week we want to keep an eye on the put/call ratio. It’s at its highest level since the early stages of the pandemic, indicating that the market is oversold.
This should fall back within the normal range as the market heads higher.
In Tuesday morning’s stock market recap video, you’ll learn whether the market is turning bullish or bearish… what market internals are pointing to right now… whether the omicron variant is taking a bite out of stocks… why I’m bearish on the Health Care sector and bonds right now… important levels of volatility we need to reach… the top and bottom sectors… and the top stock in the strongest sector and bottom stock in the weakest sector.
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!
Stock Market Recap: By the Numbers
This morning’s stock market futures recap:
DOW (mini)
- Close: 35,227.03.
- Futures: 35,537.
- Change: +325.
S&P 500 (mini)
- Close: 4,591.67.
- Futures: 4,647.25.
- Change: +57.25.
NASDAQ (mini)
- Close: 15,846.16.
- Futures: 16,117.75.
- Change: +275.25.
RUSSELL (mini)
- Close: 2,203.48.
- Futures: 2,238.2.
- Change: +34.6.
Note: Updated as of 09:21 a.m. EST
P.S. Trading Legend Spills His Secrets
Markets have been a little crazy with the latest coronavirus variant causing a stir.
That’s why trading legend Chuck Hughes decided to spill all of his best trading secrets.
He laid the foundation for how he’s been able to make a killing over the past 20-plus years, and this strategy is built to work in any market.
He could even give a trade away…
On Tuesdays, I’ll detail the strongest and weakest sectors in the entire market. I’ll tell you exactly where I’d put my money and go long, and which ones I’d avoid or even short. Using my proprietary momentum indicator, you’ll get actionable ideas on every market sector, every single Tuesday.
Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.
