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Wall Street Digests Disappointing GDP Data as Earnings Soar

by | Oct 28, 2021 | Market Updates

Keep your eye on the bond market after the latest gross domestic product data shows U.S. economy growth slowed to 2%, annualized in the third quarter — and more in Thursday’s stock market recap.

Regardless of this GDP reading, I expect inflationary pressure to continue. Considering inflation and with winter around the corner, I’ve picked out my top energy ETF to trade right now.

Stock Market Recap

In Thursday’s stock market recap, U.S. stocks opened mostly higher as shares slipped in Europe and Asia. 

Analysts originally expected a 2.8% GDP reading. So, a  better-than-expected figure would’ve supported the Federal Reserve’s bond tapering plan. However, this slower expansion pressured the Fed to leave its current economic stimulus in place. 

The S&P 500 sectors are showing fragmentation. This is a sign that the market has moved too high, too fast, which typically means it needs to cool down or consolidate at current levels. When we also consider the put/call ratio and relative strength index levels, it’s likely we will see sideways trading in the short term. 

Roger’s Radar: Top ETF and Option

The Energy sector continues to lead the S&P 500. As we approach the coldest months of the year, energy stocks could benefit from increased demand. I’ve picked out my favorite energy ETF and which option I would trade right now. Check out Thursday’s video to find out which stocks are leading the S&P 500. 

In this video, you’ll discover what to expect from the Fed today… how bullish or bearish the GDP data is… whether sectors remain fragmented and how it’s going to impact the index… an update on momentum levels in the overall market and small caps… the top ETF to own right and its option.


P.S. Get in Before the Algorithms Move Stocks

Most people have no idea what happens behind the scenes on Wall Street. 

But for the past 2 1/2 years, I’ve been researching how the market has changed… And there’s been a massive shift due to technology. 

It all comes down to automated trading machines moving billions of dollars in capital. And now I’ve completed my most shocking work yet…

It gives traders access to what these algorithms are looking for, and allows them to get in on potential targets that could explode in the next few days or weeks. 

Show Me How!

WRITTEN BY<br>Roger Scott

Roger Scott

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