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My Top Sector and Stock as the Fed Prepares to Hike Rates Again

by | Nov 1, 2022 | Market Updates

Earnings are in full swing, elections are around the corner, the Federal Reserve is about to make its next announcement… and I’m about to sit down with Joy of the Trade’s Jeff Zananiri to discuss what it means for us traders at 10 a.m. EDT today, Nov. 1.

Which means we’re just about to get started — go here to join!

In today’s session, we’ll discuss which earnings reports we’ve got our eye on, what a potential red wave this election season could mean for the stock market, which indexes I expect to rise and fall, what to expect from the Fed’s big announcement, plus a major update on the global economy and how it could impact your portfolio!

Use this link to join us today and every Tuesday at 10 a.m. EDT: https://us02web.zoom.us/j/85785766640

Stock Market Recap, Nov. 1, 2022

The major indexes are up as the market tries to build on October’s gains ahead of the next Federal Reserve meeting — and more in Tuesday’s stock market recap.

As I said in Monday’s recap, the Fed is likely to raise rates by another 0.75% in its fight against stubbornly high inflation, a move that’s baked into the market at this point.

We’re also still in the thick of earnings season.

Pharmaceutical companies Pfizer Inc. (NYSE: PFE) and Eli Lilly and Co. (NYSE: LLY) both beat on earnings and revenue estimates before the open Tuesday morning.

Fortinet Inc. (Nasdaq: FTNT), Moderna Inc. (Nasdaq: MRNA), The Hershey Co. (NYSE: HSY) and others are set to report on Wednesday, Thursday and Friday, respectively. Fortinet reports after the close while Moderna and Hershey report before the open.

In this morning’s stock market recap video, I’ll discuss which earnings reports are set to disappoint… if tech is still the big red flag in the stock market… whether the Dow is overbought and why… the most likely scenario for stocks over next few sessions… which sector remains in the lead and why I’m cautious about Energy… if volatility is rising or falling… an update on the major events happening in the markets that may cause pressure… plus the strongest stock in the strongest sector, and weakest stock in the weakest sector.

Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!

P.S. This Could Cause a Massive Swing in the Stock Market 

If there’s ever a live briefing you need to see, it’s this one…

Joy of the Trade’s Jeff Zananiri is going LIVE at 1 p.m. EDT on Tuesday, Nov. 1, to talk about what could be the biggest market shift of the year — the November midterm elections.

The result could be a massive $54-trillion market tidal wave.

And you DO NOT want to be left behind.

Sign Up to Watch Jeff’s Live Event 

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. 

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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