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Tesla and Tech Stocks Look Ready to Crumble Under Rate Pressure

by | Dec 6, 2022 | Market Updates

The major indexes are mixed on fears of higher interest rates ahead of the next Federal Reserve meeting — and more in Tuesday’s stock market recap.

November’s ISM Services data, which looks at manufacturer purchasing to gauge economic health, came in better than expected on Monday.

Following last week’s stronger-than-expected payrolls report, the ISM data stoked fears the Fed might hike rates higher and longer than expected to bring down inflation.

The markets expect a 0.50% rate hike following the Fed’s December meeting, but chances of a 0.75% rate hike are rising. There’s also some concern over how long the central bank’s rate hikes will need to continue.

chart showing chance of 0.50% vs 0.75% interest rate hike

In this morning’s stock market recap video, I’ll discuss why I believe stocks have more downside to go… which sector is most vulnerable… which sector is shaking off the bears… an update on momentum levels and why they’re key right now… the biggest report of the week and why it’s dangerous… plus an update on momentum levels and major support on the key indexes.

Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!

P.S. The Fed Is at It Again… 

In just a matter of days, the Federal Reserve is doing something that could send shockwaves yet again through the market…

Stocks could soar or plummet in a matter of minutes.

That’s why Chuck Hughes has been working on an underground project to help traders get in front of the big announcement…

And we’re going LIVE at 1 p.m. ET TODAY, Dec. 6, for the big reveal!

It’s a presentation you don’t want to miss… And the best part is, it doesn’t cost a thing to attend!

Go Here to Save Your Spot 

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: 33,947.1.
  • Futures: 33,962.
  • Change: -24.

S&P 500 (mini)

  • Close: 3,998.84.
  • Futures: 4,004.25.
  • Change: +1.

NASDAQ (mini)

  • Close: 11,786.8.
  • Futures: 11,820.5.
  • Change: +14.75.

RUSSELL (mini)

  • Close: 1,840.22.
  • Futures: 1,841.9.
  • Change: +0.3.

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

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!

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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