First, don’t forget to join me, New Money Crew’s Lance Ippolito and Joy of the Trade’s Jeff Zananiri at 11:30 a.m. EDT today for our WealthPress Live Roundtable!
We’ll drill down into all things Wall Street every Wednesday, so bookmark this link and join us at 11:30 Eastern!
The markets are flat following Tuesday’s reversal that saw the major indices finish the day in the red — and more in Wednesday’s stock market recap.
The Nasdaq and S&P 500 both fell about 0.3%. They were up as much as 2% and 1.3%, respectively, as Wall Street rallied following Tuesday’s Consumer Price Index data that came in just above expectations.
Wednesday’s Producer Price Index showed an increase of 11.2% from a year ago. It’s the biggest increase on record since the data was tracked, starting in 2010.
The PPI is not as important as the CPI. While prices at the wholesale level can impact what consumers pay at the register, consumers can pull back on their spending habits while producers must spend regardless of inflation.
In other news, earnings season started Wednesday morning, with JPMorgan & Chase Co. NYSE: JPM) reporting a $524 million hit due to market dislocations related to the war-time sanctions on Russia.
In this morning’s stock market recap video, you’ll learn why the market is so fragmented right now… major levels on the 11 sectors and which one appears to be gaining ground… which stocks are leading once again… a key update on the latest Federal Reserve data… what to expect the next few days from the market… plus my top ETF to play with 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!
P.S. The Insider Story No One Is Telling…
Corporate insiders raked in a record-breaking $69 billion in trading returns in 2021…
It’s led many to believe these huge gains made by top-ranking corporate executives have spiraled out of control. And for good reason…
If you’re one of the many American investors who feel cheated, you’ll want to check out what New Money Crew Head Trader Lance Ippolito has to say…
He believes this $69 billion spiral is one of the best opportunities in the stock market… if you know how to play it, of course!
P.P.S. When it comes to trading, every second counts. And in choppy markets like these, often driven by headlines, stocks can make big moves in a flash.
That’s why I want you to get my latest trading ideas and market updates as fast as possible. So I’m rolling out an all-new option for my students to receive trade alerts with Telegram!
Telegram allows me to get trade ideas, videos and watchlists to you in a matter of seconds.
Check out this short article we put together with instructions on how to download telegram and access my private channel. Go here to get the details.
Stock Market Recap: By the Numbers
This morning’s stock market futures recap:
DOW (mini)
- Close: 34,220.36.
- Futures: 34,093.
- Change: -46.
S&P 500 (mini)
- Close: 4,397.45.
- Futures: 4,391.
- Change: -1.25.
NASDAQ (mini)
- Close: 13,940.24.
- Futures: 13,965.5.
- Change: +21.75.
RUSSELL (mini)
- Close: 1,986.94.
- Futures: 1,988.9.
- Change: +4.1.
Note: Updated as of 9:28 a.m. EDT
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.
Need help understanding some basics that we discuss frequently? Check out some of our educational pieces to help get yourself up to speed! Have a question or a topic you’d like us to explain in a future article? Send your thoughts to support@marketgeeks.com!
- What Is the Dow and How Does It Work?
- A Beginner’s Guide to the Nasdaq and How to Trade It
- What Companies Make up the S&P 500 and How Can I Trade It?
- What Is the VIX? Understanding Stock Market Volatility
- A Beginner’s Guide to Stock Sector Analysis and Relative Strength
- How to Pick Winning Stocks With Simple Market Analysis Tools
Check back each morning for the Roger Scott newsletter and the most important news and numbers in the WealthPress stock market recap.
