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2 Major Fed Reports This Week and the Strongest Sector, Stock

by | Jun 28, 2022 | Market Updates

U.S. stock futures traded higher this morning as Wall Street attempts to sustain its rebound from the bear-market lows — and more in Tuesday’s stock market recap.

We have the Consumer Confidence report on the table Tuesday, which measures how confident consumers feel about the overall state of the economy. The consensus range is 95 to 104, but anything above 101 will be good news for stocks. 

If this report bodes well leading into Wednesday’s gross domestic product report, then that would go a long way…   

But another major factor traders and investors need to pay attention to is the horizontal trading action on the iShares 20-Plus Year Treasury Bond ETF (Nasdaq: TLT). The longer the bond market goes sideways or stagnates, the less pressure there will be on the broader market. 

I also have my eye on volatility via the VIX, or fear gauge, because if it breaks down to the 23 level — 20 is considered “average” volatility — it will cancel out the spike we saw when the Consumer Price Index came in at 8.6% for May. 

In this morning’s stock market recap video, I’ll go over the two biggest reports this week that could shape the economy… why the bond market gives us major clues on what’s to come next… two sectors starting to pull ahead of Energy and whether this rally will last… what volatility is signaling right now and what it means for stocks… and the top stocks outperforming all others in the S&P 500. 

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. At 1 p.m. EDT today, June 28, legendary trader Tom Busby and I are pulling back the curtain for the first time in history…

On what he’s calling the “Single Stock Game Plan.” 

Not only is this game plan designed to keep you from having to stare at your computer, the news and stock charts all day… 

But it can also help give you the peace of mind in trading that you deserve! 

This single stock attack plan has been crushing it this year while the broader market has been a disaster.

And it’s all been accomplished by simply tapping into just one single stock each week! 

Click 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. 

Stock Market Recap: By the Numbers

This morning’s stock market futures recap: 

DOW (mini)

  • Close: 31,438.26.
  • Futures: 31,583.
  • Change: +162.

S&P 500 (mini)

  • Close: 3,900.11.
  • Futures: 3,922.25.
  • Change: +18.5.

NASDAQ (mini)

  • Close: 12,008.24.
  • Futures: 12,079.75.
  • Change: +39.25.

RUSSELL (mini)

  • Close: 1,771.74.
  • Futures: 1,781.7.
  • Change: +11.9.

Note: Updated as of 9:16 a.m. EDT.

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

Roger Scott

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