My Top Trade as ‘Good’ Inflation Data Sends Markets Ripping Higher

by | Aug 10, 2022 | Market Updates

The broader indexes are on the move up following lighter-than-expected inflation data — and more in Wednesday’s stock market recap.

The Consumer Price Index rose 8.5% year over year versus 8.7% expected. July’s number was also much lower than June’s 9.1% figure, indicating that inflation is easing a bit.

The markets ripped higher, with Nasdaq futures rising more than 2% in premarket trading while  S&P 500 and Dow futures both rose more than 1%.

Tesla Inc. (Nasdaq: TSLA) CEO Elon Musk sold nearly $6.9 billion in Tesla stock between Aug. 5-9, according to regulatory disclosures. This news comes as his upcoming trial with Twitter Inc. (NYSE: TWTR) resumes following his decision to back out of his $44 billion deal to buy the social network.

Earnings season also continues with The Walt Disney Co. (NYSE: DIS) set to report. Investors are keen to see how the company’s subscriber numbers add up, especially in light of Netflix Inc.’s (Nasdaq: NFLX) unprecedented subscriber losses the past two quarters.

In this morning’s stock market recap video, I’ll reveal an update on the CPI and what to expect following the news… how the bond market will react in the near term… the top sector to benefit from current economic conditions… the bottom stock to sell right now… the top stock to buy… plus an update on volatility and what it means for the market.

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. How to Build Your Own ‘Frontrunner’ Portfolio 

At 1 p.m. EDT on Wednesday, Aug. 10, I’m going live to reveal my No. 1 Frontrunner Stock for the rest of 2022…

Not only that, but I’ll also discuss the core factors behind what I call “Frontrunner Stocks,” how to build your own custom ETF, portfolio management and more.

I’ll even go into great detail on the formula used to backtest the Frontrunner Portfolio, and share the results!

Join the Live Event Here 

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: 32,774.41.
  • Futures: 33,169.
  • Change: +432.

S&P 500 (mini)

  • Close: 4,122.47.
  • Futures: 4,194.75.
  • Change: +70.25.

NASDAQ (mini)

  • Close: 13,008.17.
  • Futures: 13,329.
  • Change: +297.5.

RUSSELL (mini)

  • Close: 1,912.89.
  • Futures: 1,948.6.
  • Change: +34.

Note: Updated as of 9:29 a.m. EDT

Building on the sector analysis from Tuesday, I’ll take things a step further every Wednesday with two FREE trade alerts! I’ll identify my favorite stock in the strongest sector, and even a short opportunity from the weakest sector. That’s two trades… absolutely free… each week!

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!

Check back each morning for the Roger Scott newsletter and the most important news and numbers in the WealthPress stock market recap.

WRITTEN BY<br>Roger Scott

WRITTEN BY
Roger Scott

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