The Nasdaq is down big again, but I don’t expect it to last long — and more in Thursday’s stock market recap.
Big sell-offs like the one we just saw in the Nasdaq on Wednesday tend to be reactionary and short-lived. So I expect to see this index bounce back, especially since the put/call ratio is currently above 1.
This indicates that markets are too bearish right now and should be heading higher.
Elsewhere in the news, the Centers for Disease Control and Prevention approved Pfizer and BioNTech’s COVID-19 booster shots for children ages 12 to 15.
This gives children an extra dose of protection as they return to school at a time when COVID-19 infections are surging across the country and hospitalizations of children are rising.
In this morning’s stock market recap video, you’ll learn if the Nasdaq will bottom out soon… whether the Dow Jones is the strongest index… whether bonds have more downside to go… what the most vulnerable sector is right now… an update on market internals… the major Federal Reserve data coming out today… the biggest threats and opportunities… plus my top ETF, with an option pick!
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!
Roger’s Radar: COVID-19 Vaccinations, Testing Sends Walgreens Higher
Something I found quite interesting this morning was Walgreens Boots Alliance Inc. (Nasdaq: WBA) and its premarket move.
Walgreens beat analyst expectations for fiscal first-quarter earnings after getting a boost from COVID-19 vaccinations and testing, also raising its forecast.
The news sent the stock up about 3% before it came back down a bit heading into the open.
Per CNBC:
Walgreens administered 15.6 million Covid vaccines in the first quarter — bringing its total to more than 56 million to date. Its pace of vaccinations accelerated from the previous quarter, when it gave 13.5 million shots, as adults came for booster shots and kids qualified for first-time shots. Covid vaccinations peaked at Walgreens in the third quarter of last year, when it administered 17 million shots.
So far, the company said it has administered over 9 million booster shots. It gave 6.5 million Covid tests in the first quarter.
Stock Market Recap: By the Numbers
This morning’s stock market futures recap:
DOW (mini)
- Close: 36,407.11.
- Futures: 36,345.
- Change: +54.
S&P 500 (mini)
- Close: 4,700.58.
- Futures: 4,693.25.
- Change: +0.75.
NASDAQ (mini)
- Close: 15,771.78.
- Futures: 15,712.
- Change: -54.5.
RUSSELL (mini)
- Close: 2,194.
- Futures: 2,196.5.
- Change: +5.9.
Note: Updated as of 9:16 a.m.
P.S. Is January the Best Month for Trading?
Joy of the Trade Head Trader Jeff Zananiri sure thinks so!
And Jeff recently put together an educational class to teach everyone why he loves a special strategy in particular…
“There’s no doubt in my mind, this is the top trading strategy for the next 30 days,” Jeff said.
Last January, this exact strategy pulled a fat 210% winner from the market.
So see Jeff reveal his No. 1 trading strategy for January in the class…
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.
Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.
