Stock futures fell and the markets opened lower following higher-than-expected Consumer Price Index data — and more in Thursday’s stock market recap.
The Consumer Price Index rose 7.5% year over year versus the 7.3% expected, remaining at a 40-year high. This caused the major indices to give up the ground they gained due to strong earnings.
It also puts more pressure on the Federal Reserve to move forward with their planned interest rate hikes, which are expected to begin in March.
This certainly isn’t good for the rally we were seeing build in the major indices, but it’s especially bad news for Consumer Discretionary and Technology, as these sectors typically sell off when interest rates rise.
In this morning’s stock market recap video, you’ll learn whether bonds are ready to revert higher… the key levels on today’s major Federal Reserve report… crucial price levels breached to the upside on the Dow… one sector we need to pay close attention to today…. plus top ETF and option complete with price levels and strikes.
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Stock Market Recap: By the Numbers
This morning’s stock market futures recap:
- Close: 35,768.06.
- Futures: 35,393.
- Change: -248.
S&P 500 (mini)
- Close: 4,587.18.
- Futures: 4,518.5.
- Change: -59.25.
- Close: 15,056.96.
- Futures: 14,741.75.
- Change: -294.5.
- Close: 2,083.5.
- Futures: 2,041.
- Change: -38.1.
Note: Updated as of 9:22 a.m. EST
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 firstname.lastname@example.org!
- 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 Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.