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The Biggest Threats This Week as Credit Suisse Falls on Failure Rumors

by | Oct 3, 2022 | Market Updates

The broader indexes are up as Wall Street looks to recover from a rough September — and more in Monday’s stock market recap.

The S&P 500, Nasdaq and Dow all closed out a losing month and quarter on Friday, making it the third straight losing quarter for all three indexes.

In other news, global investment bank Credit Suisse is down as much as 11% on concerns over its financial health and rumors of a potential bank failure.

According to the Financial Times, the bank’s executives have reached out to reassure major investors. Other reports citing a memo from Chief Executive Ulrich Koerner suggest the bank is also looking to raise capital.

As I’ve been saying for several weeks, the global economy is causing U.S. stocks to go down more than the American economy itself, and this is something we need to keep an eye on.

In this morning’s stock market recap video, I’ll discuss the biggest threats in the markets this week… three top sectors to focus on right now… why the bond market may be done trading lower in the near term… which index is leading and why… earnings to watch for the week… plus an update on key momentum levels and what to expect from markets this week.

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!

P.S. Homeowners, Beware — It Could Only Get Worse

With 2022 being such a tough year already, the LAST thing Joy of the Trade’s Jeff Zananiri wants to do is add more rain to your parade…

But this is unavoidable.

Just the other day, when Federal Reserve Chair Jerome Powell committed to hiking interest rates again, and again… Something scary happened in the housing market…

Mortgage rates jumped to new highs — even higher than before the Great Recession.

  • 30-year fixed: 7.479%.
  • 30-year fixed FHA: 6.917%.
  • 30-year fixed VA: 7.352%.

Now, for those who own a home, you might wonder what this has to do with you…

The answer is everything… Your retirement plans… Your nest egg… Your kids’ and grandkids’ futures…

Let Jeff Explain

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. 

Stock Market Recap: By the Numbers

This morning’s stock market futures recap:

DOW (mini)

  • Close: 28,725.51.
  • Futures: 29,154.
  • Change: +353.

S&P 500 (mini)

  • Close: 3,585.62.
  • Futures: 3,643.
  • Change: +41.5.

NASDAQ (mini)

  • Close: 10,971.22.
  • Futures: 11,131.25.
  • Change: +95.75.

RUSSELL (mini)

  • Close: 1,664.72.
  • Futures: 1,697.2.
  • Change: +27.4.

Note: Updated as of 9:29 a.m. EDT

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

Roger Scott

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