The Top Sector and Stock as Price Action Shows Its Hand

by | Feb 1, 2022 | Stock Market Sectors

The markets look to start fresh after a rough first month of the year after Exxon and UPS report better-than-expected earnings — and more in Tuesday’s stock market recap.

January typically sets the tone for the rest of the year, but things will be different in 2022.

COVID-19 changed things drastically. The Federal Reserve pumped a lot of capital into the markets over the past few years, and bond purchasing distorted the action we would typically see.

We can’t necessarily look to past trends, nor can we put too much weight on the fluctuations we’re seeing now compared to those we saw years ago, because the conditions are so different.

That said, as long as the major indices continue to see higher highs and higher lows, we will be in good shape.

It’s also a good sign that companies are reporting better-than-expected earnings. 

Exxon Mobil Corp. (NYSE: XOM) missed on its revenue estimates but still beat earnings per share, causing its stock to rise 1.5% in premarket trading on Tuesday. United Parcel Service Inc. (NYSE: UPS) beat on earnings and revenue, and raised its quarterly dividend by nearly 50%. It was up 8% in premarket trading.

In this morning’s stock market recap video, you’ll discover whether earnings or Fed data are driving the stock market right now… what major levels on the S&P 500 and Dow generate bullish momentum… a broad look at momentum and pullback… whether volatility is favorable or exploding… an update on earnings… plus the top stock in the top sector and the bottom stock in the bottom 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! 

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Stock Market Recap: By the Numbers

This morning’s stock market futures recap: 

DOW (mini)

  • Close: 35,131.86.
  • Futures: 35,020.
  • Change: +23.

S&P 500 (mini)

  • Close: 4,515.55.
  • Futures: 4,508.5.
  • Change: +4.25.

NASDAQ (mini)

  • Close: 14,930.05.
  • Futures: 14,948.75.
  • Change: +42.5.

RUSSELL (mini)

  • Close: 2,028.45.
  • Futures: 2,025.2.
  • Change: +1.5.

Note: Updated as of 9:17 a.m. EST  

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.

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

Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.

WRITTEN BY<br>Roger Scott

WRITTEN BY
Roger Scott

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