The markets are steady after breaking a three-day losing streak while investors await the latest gross domestic product data — and more in Wednesday’s stock market recap.
The GDP is the biggest report of the quarter that’ll tell us if the economy is growing, and by how much.
This quarter’s GDP came in at 2.3%, right in line with consensus estimates of 2.1% to 2.3%.
Had it been lower, the Federal Reserve might have had reason to reconsider its plan to pull back on bond purchases. But as it stands, the Fed will likely hold its course.
The Biden administration announced plans to hold a meeting to address ongoing supply chain issues. Private sector companies, such as transport business FedEx Corp. (NYSE: FDX), and U.S. officials will discuss efforts to fix disruptions caused by the pandemic.
In this morning’s stock market recap video, you’ll learn why Wednesday’s GDP data can shape market direction in the days to come… the most likely scenario for the bond market… whether stocks are set to rise or fall… major price levels for the major indices… a look into market internals… and my favorite long and short stocks right now with options criteria.
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: 35,492.7.
- Futures: 35,370.
- Change: -13.
S&P 500 (mini)
- Close: 4,649.23.
- Futures: 4,636.25.
- Change: -4.5.
NASDAQ (mini)
- Close: 15,986.28.
- Futures: 15,956.75.
- Change: -23.25.
RUSSELL (mini)
- Close: 2,202.95.
- Futures: 2,196.7.
- Change: -3.
Note: Updated as of 9:23 a.m. EST
P.S. Want Bigger Trades? Try the Weekend Instead
Anyone placing trades during the week may actually be stacking the cards against themselves…
Look, every week, thousands of headlines like earnings or bad news out of the Federal Reserve or China wreck what may seem to be perfectly good trade setups.
So instead of traders risking their hard-earned cash during the meat of the week, there’s a simple Friday afternoon strategy that is able to skip all of the madness…
It taps into some of the most reliable forces in the market, already giving New Money Crew Head Trader Lance Ippolito direct access to gains like 62% on PM, 28% on AMC and 30% on UAL, all in the past couple of weeks!
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!
Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.
