The major indexes are down as investors weigh how aggressive the Federal Reserve will be with future interest rates hikes — and more in Monday’s stock market recap.
Fed Chair Jerome Powell is scheduled to speak at the central bank’s economic symposium in Jackson Hole, Wyoming, on Friday. And we could be in for a volatile week of trading as investors await his comments regarding the economy, inflation and future rate hikes.
While earnings season is almost over, several well-known companies report this week. Retailers Macy’s, Inc. (NYSE: M) and Nordstrom Inc. (NYSE: JWN) are scheduled to report on Tuesday, with Salesforce Inc. (NYSE: CRM) and NVIDIA Corp. (Nasdaq: NVDA) on Wednesday.
We also have gross domestic product data on Thursday, which will tell us whether or not the economy is growing.
In this morning’s stock market recap video, I’ll reveal this week’s biggest threats and opportunities… what to expect from GDP… which sectors are the most vulnerable and why… how to position yourself for safety… the biggest earnings reports to pay attention to… why I’m growing more bullish on defensive stocks… and why I believe tech and consumer discretionary stocks are overdone!
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. Downgrade a Stock to Go LONG?
Have you ever noticed after a stock has been down for 30 days… 60 days… shoot, even 90 days…
The big banks then come out and downgrade it?
If you think that “sounds fishy,” then you’re just like Joy of the Trade’s Jeff Zananiri… And you’re right, it is fishy.
So Jeff started digging, and what he found was shocking.
What if Wall Street downgrades a stock… to go LONG on it?
And what if Wall Street upgrades a stock… to SHORT it?
What Jeff uncovered is not just eye-opening, but it could be extremely valuable for a small group of traders who know this ONE secret…
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: 33,706.74.
- Futures: 33,370.
- Change: -338.
S&P 500 (mini)
- Close: 4,228.48.
- Futures: 4,181.
- Change: -50.5.
NASDAQ (mini)
- Close: 13,242.9.
- Futures: 13,071.5.
- Change: -197.
RUSSELL (mini)
- Close: 1,957.35.
- Futures: 1,937.1.
- Change: -22.
Note: Updated as of 9:06 a.m. EDT
To kick off the week, each Monday video will outline my weekly outlook and any actionable announcements, news or catalysts I’m watching. I’ll also outline exactly which opportunities I expect to unfold in the coming five trading days, so check out this short video for more information!
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.
