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The Strongest, Weakest Stocks as Powell Prepares for Confirmation

by | Jan 11, 2022 | Stock Market Sectors

The markets are recovering as we come off of one of the worst sell-offs in tech we’ve had in a long time — and more in Tuesday’s stock market recap.

Federal Reserve Chair Jerome Powell is set to speak before a Senate committee for his confirmation hearing. He will likely talk about inflationary pressure and the Fed’s plans going forward, including a timeline for rate hikes.

It’s still unknown if he’ll be cautious or plow full steam ahead in pulling back on bond purchases.

With the delta and now omicron variants further disrupting the economy, it’s possible the Fed may slow down its plans. If it does and continues to buy bonds, the market should rally.

Elsewhere in the news, the U.S. is experiencing a 50% increase in COVID-19 cases compared to the previous week as the omicron variant continues to wreak havoc on society.

The good news is deaths have been cut in half compared to the numbers seen this time last year thanks to access to vaccines. 

In this morning’s stock market recap video, you’ll discover whether tech is ready to trade higher… whether bonds are set to rally… the biggest threats and opportunities for the market right now… an update on market internals… analysis of volatility levels… major resistance levels for the three big indices… 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! 

Stock Market Recap: By the Numbers

This morning’s stock market futures recap: 

DOW (mini)

  • Close: 36,068.87. 
  • Futures: 35,933. 
  • Change: -18. 

S&P 500 (mini)

  • Close: 4,670.29. 
  • Futures: 4,660.75. 
  • Change: -1.5. 

NASDAQ (mini)

  • Close: 15,614.43. 
  • Futures: 15,592. 
  • Change: -17.5. 

RUSSELL (mini)

  • Close: 2,171.15. 
  • Futures: 2,167.7. 
  • Change: -0.3. 

Note: Updated as of 9:13 a.m. EST  

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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.

WRITTEN BY<br>Roger Scott

Roger Scott

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