The major indexes are mixed following a strong gross domestic product report and dismal earnings from Meta — and more in Thursday’s stock market recap.
U.S GDP came in better than expected at 2.6% versus estimates of 2.3%. The news helped lift the market Thursday morning despite earnings misses from some of the biggest tech companies on Wall Street this week.
The latest to disappoint was Facebook parent company Meta Platforms Inc. (Nasdaq: META). Meta plunged 23% premarket after missing third-quarter earnings and reporting a weak outlook for the fourth quarter.
Several analysts also downgraded the company Thursday, citing increased spending as the company works to create the metaverse.
All eyes are now on Amazon.com Inc. (Nasdaq: AMZN) and Apple Inc. (Nasdaq: AAPL), which report after the bell Thursday.
In this morning’s stock market recap video, I’ll discuss if the bond market will revert lower or change course… which sector remains fertile for long-term growth… how to survive the current downside in tech stocks… if Apple and Amazon will pull us out of that downside… and what to expect from the market in the next few sessions.
Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!
P.S. Introducing the Quantum Indicator
What I’m about to share with you is arguably the most impactful discovery in the history of WealthPress…
On Oct. 8, 2022, an entirely new way to enter and exit trades came to life.
It’s a system that has the potential to anticipate the future direction of the stock market a full day in advance.
I call it my “Quantum Indicator.”
I’m so excited about this new indicator, I’m holding a special live training event at 1 p.m. EDT on Thursday, Oct. 27, where I’ll show everyone how to install and even use the Quantum Indicator.
And the best part is… it doesn’t cost a thing to attend!
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!
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Each Thursday, I’ll combine two of my favorite things into a big-money opportunity: options plays and ETFs. Using options, we can turn momentum analysis of a specific sector — or even an entire country’s stock market — into an actionable trade with double- or triple-digit upside potential. I’ll give you all the details you need to execute this plan.
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.