What to Watch as the Market Prepares for More Fed, Retail Sales Data

by | Jan 10, 2022 | Market Updates

The Nasdaq and S&P 500 are heading for a five-day losing streak as we look toward a busy week on Wall Street — and more in Monday’s stock market recap.

Federal Reserve Chair Jerome Powell will speak on Tuesday. As the markets are cooling off, there’s a chance he’ll walk back on some of his talk to raise rates right now.

On Wednesday, we have the latest Consumer Price Index data, and then consumer sentiment and retail sales on Friday. Remember, retail sales make up two-thirds of our economy via gross domestic product, so we always pay extra attention to this report. 

Elsewhere in the news, Moderna Inc. (Nasdaq: MRNA) CEO Stephane Bancel said an omicron-specific booster is about to enter clinical trials, and should be available this coming fall. And Pfizer Inc. (NYSE: PFE) CEO Albert Bourla said its omicron-specific COVID-19 vaccine should be ready by March and the company is already manufacturing doses.

In this morning’s stock market recap video, you’ll discover whether tech selling is overdone to the downside… the current state of the bond market… which Fed report we need to pay close attention to… which sectors are leading the market and which are lagging… current momentum levels on tech and blue chips… current price levels on chip stocks… and a full update on what to expect this week from stocks and bonds. 

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: 36,231.66. 
  • Futures: 36,013. 
  • Change: -94. 

S&P 500 (mini)

  • Close: 4,677.03. 
  • Futures: 4,637.25. 
  • Change: -30.5. 

NASDAQ (mini)

  • Close: 15,592.19. 
  • Futures: 15,391. 
  • Change: -191.75. 

RUSSELL (mini)

  • Close: 2,179.81. 
  • Futures: 2,163.5. 
  • Change: -12.4. 

Note: Updated as of 9:11 a.m. EST  

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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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