Both the S&P 500 and Nasdaq closed near their Nov. 8 record highs on Tuesday while Home Depot earnings helped boost the Dow Jones — and more in Wednesday’s stock market recap.
Boeing Company (NYSE: BA), another Dow Jones stock, is up 1.5% this morning on a $9 billion order from India’s Alaska Air.
Target Corp. (NYSE: TGT) posted better-than-expected earnings, but shares fell 5% in premarket trading Wednesday. The company emphasized it will focus on value as consumers continue to face sticker shock from rising inflation.
And not only did Home Depot (NYSE: HD) report stellar earnings, competitor Lowe’s Companies (NYSE: LOW) did, as well, fueled by online orders and business-from-home professionals.
Stock Market Recap: By the Numbers
This morning’s stock market futures recap:
- Close: 36,142.22
- Futures: 36,015
- Change: -46
S&P 500 (mini)
- Close: 4,700.9
- Futures: 4,692.75
- Change: -3.25
- Close: 16,309.77
- Futures: 16,310.75
- Change: +10
- Close: 2,405.02
- Futures: 2,396.4
- Change: -8.4
Note: Updated as of 09:07 a.m. EST.
Roger’s Radar: Consumer Staples
On my radar today is whether consumer staples are going to break out in light of the positive numbers from stores like Target and Walmart.
Both of those major retailers actually declined after earnings beats this week. Target is down this morning after CEO Brian Cornell said the company is focused on value as prices of food, gas and more rise while consumers face sticker shock, according to CNBC.
There’s basically a tug of war going on right now as the market tries to discover if the needs are going to win over wants.
In this morning’s stock market recap video, you’ll discover which two sectors are battling it out… why the bond market barely moved yesterday… whether chips and tech are overdone to the upside… which Fed report is crucial to current market conditions… whether Chinese stocks will create another ripple in the markets… and two long pullback trades and a short pullback trade.
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!
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Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.