The major indexes fell to start September as concern over rising interest rates plagues the market — and more in Thursday’s stock market recap.
Cleveland Federal Reserve President Loretta Mester said Wednesday that she sees rates rising above 4%, well above the Fed’s current benchmark rate of 2.25% to 2.5%.
Jobless claims totaled 232,000, below estimates of 245,000 and the lowest number since June. This indicates the labor market remains strong even as the economy slows.
Meanwhile, chipmaker NVIDIA Corp. (Nasdaq: NVDA) fell 5% after the close Wednesday on news that the U.S. is restricting sales to China, which would cause Nvidia to lose about $400 million in revenue from during the current quarter.
In a statement Thursday morning, Nvidia revealed it received approval from U.S. officials to perform exports through March 1, 2023, and fulfill orders via its Hong Kong facility through Sept. 1, 2023.
In this morning’s stock market recap video, I’ll reveal which sector is set to lead and which is most vulnerable… why technical levels on the long bond are the single most important indicator for stocks… what volatility levels mean for stocks… if the Dow Jones will bottom out… the biggest report of the week and what to expect… plus my top ETF and option pick!
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. The Powerful ‘Numerical’ Sequence Hidden Behind Every Stock
Part supercomputer and entirely algorithmic…
We’re not talking about the next self-driving car, but rather the remarkable trading breakthrough known as the “S3 Advantage.”
Over two years in development, this brainchild of myself and Jack Carter is finally ready to be released to the public!
It all has to do with a powerful “numerical” sequence hidden behind every stock…
And we’re going live again at 1 p.m. EDT today, Sept. 1, to give away all the details on the system. We’ll even reveal the tickers in our S3 Advantage Watchlist!
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.
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 email@example.com!
- 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.