The markets are still digesting remarks made during two Federal Reserve hearings and data from several reports this week including the latest consumer sentiment and retail sales reports — and more in Friday’s stock market recap.
Retail sales is always an important report because it makes up about two-thirds of the economy.
And consumer spending makes up about 70% to 75% of the economy. So together, these two reports have the potential to significantly move the markets.
We already have the retail sales number, and it’s not great… Retail sales fell 1.9% in December, more than consensus estimates, as consumers curbed their holiday shopping in the face of higher prices.
Elsewhere in the news, Sarah Bloom Raskin is about to be nominated as the Federal Reserve’s next Vice Chair for Supervision, with her confirmation hearing to be held before the Senate Banking Committee.
In this morning’s stock market recap video, you’ll learn which sectors have upside potential and which ones are vulnerable… which index is showing strength and which one is weakest… the biggest report to pay attention to and how it could shape Friday’s trading action… whether volatility levels will continue to rise or subside… the best way to take advantage of the current market cycle… an update for the holiday-shortened trading week ahead and crucial levels to watch.
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:
- Close: 36,113.62.
- Futures: 35,677.
- Change: -312.
S&P 500 (mini)
- Close: 4,659.03.
- Futures: 4,610.5.
- Change: -42.
- Close: 15,495.62.
- Futures: 15,345.25.
- Change: -141.75.
- Close: 2,159.44.
- Futures: 2,132.4.
- Change: -23.1.
Note: Updated as of 9:14 a.m. EST
P.S. Want Bigger Trades? Try the Weekend Instead
Anyone placing trades during the week may actually be stacking the deck 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!
On Fridays, we’ll review the week that was… We’ll discuss how our trades did, what we learned and how to apply it to next week’s trading plan, and any developing trade setups. This video will put a bow on the week. We’ll also go over winners from my different member strategies.
Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.