U.S. stock futures are flat as the markets digest bank earnings, Twitter news, and retail sales — and more in Thursday’s stock market recap.
The markets rallied on Wednesday with both the S&P 500 and Nasdaq climbing 1.12% and 2.30%, respectively, to break their three-day losing streaks.
March retail sales grew 0.5%, just shy of the 0.6% estimate, with purchases declining in larger categories like auto and online sales.
Four major U.S. banks reported first-quarter earnings Thursday morning. Citigroup Inc. (NYSE: C), Goldman Sachs Group Inc. (NYSE: GS) and Morgan Stanley (NYSE: MS) all came in ahead of estimates, sending shares of GS and MS up 2% while C rose 3% in premarket trading.
Tesla CEO Elon Musk offered to buy Twitter Inc. (NYSE: TWTR) for $54.20 a share, just days after the world’s wealthiest person reversed course on joining the company’s board of directors.
In a letter to Twitter Chair Bret Taylor, Musk wrote: “Twitter needs to be transformed as a private company.” The news sent shares up 12% premarket.
In this morning’s stock market recap video, you’ll discover which report to pay close attention to from the Federal Reserve… why volatility is not responding to the war and instead falling… whether market internals are in the danger zone…. which sector persists higher… how China is impacting the U.S. stock market… key price levels to pay attention to… plus one long and one short trade idea for Thursday.
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!
On May 3, the Federal Reserve could do something it hasn’t done in over two decades…
Goldman Sachs expects it to raise interest rates by 50 basis points!
The last time the Fed did this, it sent shockwaves through the entire stock market. So I want to make sure we prepare our portfolios for what’s to come…
Which could be one of the greatest sector rotations we’ve ever seen.
I’ve been working on something to get ready for this massive shift… And I’m going to break down the strategy and the No. 1 sector play I believe will rip once the Fed makes its move — for free!
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:
- Close: 34,564.59.
- Futures: 34,513.
- Change: +31.
S&P 500 (mini)
- Close: 4,446.59.
- Futures: 4,436.
- Change: -6.25.
- Close: 14,217.29.
- Futures: 14,205.25.
- Change: -15.5.
- Close: 2,025.1.
- Futures: 2,016.6.
- Change: -5.8.
Note: Updated as of 9:28 a.m. EDT
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.
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 firstname.lastname@example.org!
- 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.