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What to Watch as Markets Await Midterms, Inflation Data and More

by | Nov 7, 2022 | Market Updates

The major indexes are up as Wall Street awaits midterm election results and the latest inflation report — and more in Monday’s stock market recap.

Tuesday’s midterm elections could bring some volatility, and a Republican majority could bring greater support for oil and gas stocks.

However, the elections most likely won’t have as much of an effect on the market as Thursday’s Consumer Price Index report…

Thursday’s CPI data will give us crucial information on how inflation is impacting the consumer. While the headline number is important, the Federal Reserve will pay more attention to the core CPI number, which is estimated to come in at 6.5% month over month.

Earnings season is winding down, but we still have big reports coming from Lyft Inc. (Nasdaq: LYFT), Occidental Petroleum Corp. (NYSE: OXY), Palantir Technologies Inc. (NYSE: PLTR) and The Walt Disney Co. (NYSE: DIS), among others.

In this morning’s stock market recap video, I’ll discuss the most probable scenario for stocks in the near term… why I’m nervous about the action in the Dow… whether bonds are helping or hurting stocks right now… whether volatility is set to increase or decrease… which sectors are out of balance with the rest of the market… which stocks I’m short and why…  the best way to take advantage of this market right now… and what to expect for the week ahead!

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

P.S. 2022 Elections Have Volume Going Crazy!

Throughout the past week, New Money Crew’s Lance Ippolito noticed higher volume pushing stocks around…

And his gut tells him it has a lot to do with Tuesday’s midterm elections.

With volume picking up, we could see a wild week of trading…

That’s why Lance is holding a live trading session at 1 p.m. ET TODAY, Nov. 7, to review a handful of stocks seeing the most trading volume.

His goal is to find tradable opportunities heading into Tuesday morning…

So if you’d like to look over his shoulder as he goes hunting for some high-volume stocks using the Master Indicator, at no cost…

Sign Up Here

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. 

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 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

WRITTEN BY
Roger Scott

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