The Most Critical Reports Shaping This Week’s Market Action

by | Aug 8, 2022 | Market Updates

The markets are up to start the week as Wall Street awaits the latest Consumer Price Index inflation data — and more in Monday’s stock market recap.

The S&P 500 locked in its third straight winning week following a strong jobs report. The Nasdaq also posted a win for the week.

Economists expect Wednesday’s CPI to show a slight slowdown in inflation, but we could still be in for a volatile week as the markets await and then digest the newest number.

In earnings season news, software company Palantir Technologies Inc. (NYSE: PLTR) beat on revenue estimates but missed on earnings, reporting a loss of $0.01 per share versus an expected gain of $0.03, sending it tumbling more than 15% in premarket trading.

Beef and poultry producer Tyson Foods Inc. (NYSE: TSN) beat on revenue but missed on earnings as beef demand remained high while chicken volume dropped, sending shares 2.5% lower in premarket trading.

In this morning’s stock market recap video, I’ll reveal how the market is reacting to the impressive job report from last week… why the bond market is shifting lower… which sectors should remain strong in light of the current trajectory… why I’m becoming more bearish on tech and consumer stocks… plus the major report that’s on the table and how markets will react later this week.

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 Long Can I Keep Up the 100% Win Rate?

The 100% win rate* keeps on rockin’!

Pattern Trader members had the ability on July 29 to lock in their biggest win yet — a 36% gain** on COF in just two days! That’s right on par with our average hold time of three days per trade…

That makes a total portfolio gain of 188%, with an average return of 17.1% per trade — what a hot streak!

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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: 32,803.47.
  • Futures: 32,921.
  • Change: +164.

S&P 500 (mini)

  • Close: 4,145.19.
  • Futures: 4,164.75.
  • Change: +18.

NASDAQ (mini)

  • Close: 13,207.69.
  • Futures: 13,277.
  • Change: +48.25.

RUSSELL (mini)

  • Close: 1,921.82.
  • Futures: 1,934.1.
  • Change: +12.3.

Note: Updated as of 9:28 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!

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

*Stated results are typical for given period. Past performance is not indicative of any future results. Trade at your own risk.
**Stated results are atypical for given period. Past performance is not indicative of any future results. Trade at your own risk.

 

WRITTEN BY<br>Roger Scott

WRITTEN BY
Roger Scott

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