Stock futures dropped just one day after a strong Federal Reserve-driven rally — and more in Thursday’s stock market recap.
It’s normal to open lower following such a rally. A reprieve is healthy — you don’t want the market to be stretched too far to the upside after being stretched so far to the downside!
The S&P 500 gained 3% Wednesday, its biggest one-day gain in three years. During Wednesday’s WealthPress Live Roundtable — join us at 11:30 a.m. EDT each week! — Joy of the Trade’s Jeff Zananiri predicted we would have a big move, and we got one! And Jeff is going live again at 1 p.m. Thursday to reveal his take on what’s going to happen next.
Jeff has been nailing all of his big predictions in 2022, so be sure to join him!
Along with Wednesday’s 0.50% rate hike, the Fed appears to have ruled out future 0.75% increases, with Chair Jerome Powell saying 50-basis-point hikes remain under consideration at the Fed’s next two meetings in June and July.
In this morning’s stock market recap video, you’ll learn which way the market is headed… why Wednesday’s move was significant… how to read the bond market… an earnings preview… how to stay out of trouble given the current volatility… plus my top sector right now.
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. Don’t Try to Be a Hero
In these markets, don’t try to time the bottoms..
Because there’s going to be some fallout.
In fact, according to former $700 million hedge fund manager Jeff Zananiri, there are multiple crashes coming.
He’s been trying to warn traders for weeks now…
And he’s going live at 1 p.m. EDT today, Thursday, May 5, to reveal a unique opportunity to play both sides!
Because if traders aren’t primed to take advantage of market crashes, they could be left on the sidelines watching the grand slam opportunity of the decade pass by.
Don’t Miss His Live Presentation Today!
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: 34,061.06.
- Futures: 33,747.
- Change: -224.
S&P 500 (mini)
- Close: 4,300.17.
- Futures: 4,258.5.
- Change: -36.75.
NASDAQ (mini)
- Close: 13,535.71.
- Futures: 13,369.
- Change: -161.75.
RUSSELL (mini)
- Close: 1,949.92.
- Futures: 1,930.5.
- Change: -16.7.
Note: Updated as of 9:27 a.m. EDT
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!
- 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.
