U.S. stock futures traded higher this morning following a rough and volatile month of May — and more in Wednesday’s stock market recap.
If you look at volatility levels on the SPDR Dow Jones Industrial Average ETF Trust (NYSEArca: DIA), an ETF that tracks 30 large-cap Dow stocks, you’ll notice that it’s still declining. When volatility turns lower, it usually means the market is going to rally.
If the DIA can reach the $340 level, there’s a great chance it’ll bypass its 200-day moving average, which will push us back into bullish territory.
The big report for Thursday is the ISM manufacturing index, which is important because it’ll tell us how supply chains, exports, imports and prices are impacting manufacturing firms nationwide.
If the number meets consensus — now at 54.5 — it means things aren’t slowing down and that bottlenecks, inflationary pressures and China’s slowdown aren’t affecting the global economy as much as we might think.
In this morning’s stock market recap video, you’ll also learn which sector keeps trending higher… what industry I’m targeting right now… whether market volatility is set to rise or fall… if the Federal Reserve is ready to back down on its commitment… the top levels for stocks to buy and sell… one consumer staple stock you’ll want to own… and one Chinese tech stock you might want to sell, liquidate or avoid completely.
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. In case you missed the memo, 22% of stocks in the market are still bullish…
They aren’t the well-known names that people were trading during the post-COVID-19 bull market…
I’m talking about the value plays that have dirt cheap call options right now, or the defensive names that thrive during bear markets.
But it means we have almost a quarter of stocks in the market to play with right now…
Stocks that have previously led to some big wins, and hardly anyone knows about them!
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:
- Close: 32,990.12.
- Futures: 33,178.
- Change: +207.
S&P 500 (mini)
- Close: 4,132.15.
- Futures: 4,150.
- Change: +18.75.
- Close: 12,643.1.
- Futures: 12,708.
- Change: +61.5.
- Close: 1,864.04.
- Futures: 1,872.5.
- Change: +10.6.
Note: Updated as of 9:20 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 firstname.lastname@example.org!
- 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.