The Nasdaq is down big on the first trading day of the week following the markets being closed Monday for Martin Luther King Jr. Day — and more in Tuesday’s stock market recap.
The Nasdaq is on track to open 1.7% lower as bond yields move higher, with the yield on the two-year Treasury breaking above 1% for the first time since February 2020.
The Dow is also set to open lower by 1% with Goldman Sachs Group Inc. (NYSE: GS) dropping on disappointing earnings.
Not only did the company miss on earnings, it reported that operating expenses soared 23% from the previous year.
Elsewhere in the news, Microsoft Corp. (Nasdaq: MSFT) is set to buy beaten-down video game company Activision Blizzard Inc. (Nasdaq: ATVI) in an all-cash deal for $68.7 billion, causing Activision’s shares to surge 37% premarket.
In this morning’s stock market recap video, you’ll discover the short- and long-term support levels for the S&P 500 and Nasdaq… the biggest market-moving catalyst this week… the single most important sector to watch… whether bonds will push the market lower… an update on market internals… and the top stock in the top 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:
- Close: 35,911.81.
- Futures: 35,510.
- Change: -286.
S&P 500 (mini)
- Close: 4,662.85.
- Futures: 4,611.25.
- Change: -43.5.
- Close: 15,611.59.
- Futures: 15,375.5.
- Change: -220.25.
- Close: 2,162.46.
- Futures: 2,140.8.
- Change: -16.9.
Note: Updated as of 9:17 a.m. EST
P.S. How We Nailed 16X What the S&P 500 Returned… by Trading the S&P
Compared to the 8% return the S&P 500 yielded in October…
I’ve used this unique tactic to generate an overall 134.48% return since October… all from moves in the S&P 500!
Today, I’m holding a strictly “meat and potatoes” training session to teach everyone how I was able to nail a nearly 16-times greater return than most other traders…
Plus give away my No. 1 sector play for the next six months…
Click Here to Register for the Training.
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.
P.S. WealthPress Senior Strategist Roger Scott has used a unique tactic to generate an overall return of 134.48% since October… all from moves in the S&P 500! And today at 1 p.m. EST, he’s holding a strictly “meat and potatoes” training session to teach everyone how he did it!
He’ll also give away his No. 1 sector play for the next six months…