U.S. stock futures headed lower as consumer prices remain at 40-year highs — and more in Wednesday’s stock market recap.
The first of this week’s two big inflation reports — the Consumer Price Index — came in at 8.3% for April, above consensus estimates of 8.1%, which sent futures sinking again this morning.
Core CPI, which excludes food and energy, also rose a higher-than-expected 6.2%. Meanwhile, inflation adjusted earnings declined for workers, falling 2.6% as the cost of living surges.
Not to mention the cost for shelter, which accounts for one-third of the CPI, rose at its fastest pace since 1991.
The stronger-than-expected inflation report sent the 10-year Treasury yield back above 3% as investors await Thursday’s Producer Price Index report, which will give us more information on how inflation is affecting producers, who pass rising expenses down to consumers.
In this morning’s stock market recap video, you’ll learn whether energy stocks are done moving higher… which sector is starting to make its move… how to find actionable ideas in the current market… the biggest report that will impact the bond market today… a full update on the global economy… plus my top stock to buy, and weakest stock to sell.
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!
Even if investors could figure out this market’s insane volatility, there are still too many disadvantages to deal with.
We’ve seen stocks rebound from similar environments in the past… but we don’t know exactly when that could happen.
So I just went live to share one of my favorite rotational strategies that includes a hedge to help protect against downside moves.
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: 32,160.74.
- Futures: 32,058.
- Change: -29.
S&P 500 (mini)
- Close: 4,001.05.
- Futures: 3,981.25.
- Change: -15.5.
- Close: 12,345.86.
- Futures: 12,246.5.
- Change: -102.5.
- Close: 1,761.79.
- Futures: 1,761.1.
- Change: +1.2.
Note: Updated as of 9:29 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.