Nasdaq futures dropped about 2% premarket, leading the other indexes lower — and more in Monday’s stock market recap.
Dow and S&P 500 futures were also down more than 1% premarket as bond yields continue to rise while investors doubt the Federal Reserve will get inflation under control.
Two key reports — the Consumer Price Index and Producer Price Index — come out on Wednesday and Thursday, respectively. That should give us a better idea of how inflation is affecting consumers and producers alike.
The earnings season sell-off continues with Rivian Automotive Inc. (Nasdaq: RIVN) down 19% in extended trading on news that Ford Motor Co. (NYSE: F) plans to offload 8 million shares. Rivian is down 72% in 2022 and reports earnings Wednesday.
New Money Crew Head Trader Lance Ippolito has been short this stock for a while now, and called for it to head lower in last Wednesday’s WealthPress Live Roundtable.
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Software company Palantir Technologies Inc. (NYSE: PLTR) is also down 15% premarket on an earnings miss and weaker-than-expected revenue.
In this morning’s stock market recap video, you’ll learn whether stocks will trade lower or bounce higher… the major report this week to pay attention to… whether the long bond is ready to trade higher or lower… the one sector that’s diverging from the rest of the market… why the put-to-call ratio is important right now… plus what market internals are pointing to.
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. Rate Hikes Are Causing the Markets to Go Haywire
I’m hosting an urgent live training session at 1 p.m. EDT on Tuesday, May 10, and I want everyone to be there!
I’ve been testing a strategy looking for patterns in the stock market leading up to Federal Reserve announcements… and I’ve found what I believe could be the best trading opportunity I’ve ever seen.
I want to reveal it so those who want to take action before the next meeting in June can do so…
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: 32,899.37.
- Futures: 32,505.
- Change: -304.
S&P 500 (mini)
- Close: 4,123.34.
- Futures: 4,065.5.
- Change: -54.
- Close: 12,693.54.
- Futures: 12,456.25.
- Change: -239.5.
- Close: 1,839.56.
- Futures: 1,815.4.
- Change: -21.1.
Note: Updated as of 9:26 a.m. EDT
To kick off the week, each Monday video will outline my weekly outlook and any actionable announcements, news or catalysts I’m watching. I’ll also outline exactly which opportunities I expect to unfold in the coming five trading days, so check out this short video for more information!
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.