loader image

It’s an Explosive Day for Stocks — GDP Contracts, Earnings and More

by | Jul 28, 2022 | Market Updates

The market is little changed even as U.S. gross domestic product contracts for a second time — and more in Thursday’s stock market recap.

GDP came in at -0.9%, following the previous quarter’s -1.6%. GDP falling for the second straight quarter sends a strong signal that we’re in or heading into a recession.

This news follows the Federal Reserve’s second consecutive 0.75% interest rate hike, announced at the conclusion of its two-day meeting on Wednesday.

Earnings season also continues, with Facebook parent company Meta Platforms Inc. (Nasdaq: META) reporting after the bell Wednesday. The company’s metaverse and virtual reality unit lost $2.8 billion in the second quarter, with more losses expected in the third.

Meanwhile, investors are anticipating reports from Amazon.com Inc. (Nasdaq: AMZN) and Apple Inc. (Nasdaq: AAPL) after the bell on Thursday.

In this morning’s stock market recap video, I’ll reveal Apple and Amazon earnings previews and what to expect… how GDP data and the bond market work together… the top sector to watch right now… whether energy is making a comeback or is a dead cat bounce… what to watch in the next few sessions… plus my top ETF and an option pick for you!

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. This New Indicator Is Causing a Big Stir 

What fellow trader Lance Ippolito and his New Money Crew team have been working on is nothing short of incredible… It’s something totally different from anything he’s EVER done before.

It has nothing to do with option flow, insider buying, and it’s not a new trade alert service… Instead, it’s a brand-new indicator he’s been working on for years and never shared before.

He thinks it could be a major asset for folks looking to survive — and even thrive — in 2022 and beyond.

Lance is revealing all the details at 11 a.m. EDT TODAY, Thursday, July 28. To get more details on his incredible indicator…

Register for the 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. 

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 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

Roger Scott

What to read next

99 Problems and a “Pivot” is One

99 Problems and a “Pivot” is One

A friend of mine sent me this chart about three months ago. I should probably print it and keep it in my wallet next to a photo of my daughter. Given the sheer number of questions I’ve fielded lately, I’ll probably end up showing this chart more than her picture.

read more
Everything Everywhere, Going Down, All At Once

Everything Everywhere, Going Down, All At Once

When our momentum reading went negative last week, I didn’t know that we’d have the second largest bank failure in U.S. history three days later. All I knew was that it went negative… and that we got out of the way.

read more
Trust But Verify…

Trust But Verify…

I want to talk about our version of “Trust but Verify” in the markets. Qualification is the most important part of the investing process. And this F score value strategy looks to be crushing the current market.

read more

Have any questions? Contact Our Customer Service Team