My Top Stock and Sector as CPI Inflation Data Tanks Market

by | Sep 13, 2022 | Market Updates

The major indexes are tanking after a hotter-than-expected inflation report — and more in Tuesday’s stock market recap.

Month-over-month and year-over-year Consumer Price Index figures came in at 0.1% and 8.3%, respectively, compared to estimates of -0.1% and 8.1%.

As I mentioned in Monday’s stock market recap, I’m most concerned with the YOY CPI excluding food and energy prices. This figure also disappointed, coming in at 6.3% versus consensus estimates of 6.1%.

And remember, I said we wanted to see that number come in below 5.9%, which was the previous reading.

With Federal Reserve Chair Jerome Powell vowing to remain aggressive with interest rate hikes until inflation is under control, the CME FedWatch Tool now rates the probability of a 0.75% hike at 80%, with a 20% chance of a full 1% hike.

In this morning’s stock market recap video, I’ll discuss what to expect from the bond market… if tech or blue chips will move the most… an update on chip stocks… why I’m worried about consumer discretionary stocks… key levels on the major indices… how to interpret the CPI report… the sector that continues to lag behind the overall market… plus which stock continues to lead, and which continues to lag.

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. Are You Prepared for Sept. 20? 

There’s a straightforward way I analyze the market that often leads me to the biggest moves in the investment world before they happen.

And there’s no funny business required with the strategy I’ll share in a special live event — at no cost!

It’s based on an age-old secret that Vanguard’s John Bogle calls “the most important rule for investors to learn.”

And without understanding this basic principle, trading will only get more challenging.

All you need to do is cut out all the noise in the market, forget about all 4,000 stocks and focus on 11 sectors…

The time to prepare your portfolio is now.

Watch the Event 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!

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Stock Market Recap: By the Numbers

This morning’s stock market futures recap:

DOW (mini)

  • Close: 32,381.34.
  • Futures: 31,915.
  • Change: -583.

S&P 500 (mini)

  • Close: 4,110.41
  • Futures: 4,037.25
  • Change: -92.75

NASDAQ (mini)

  • Close: 12,739.72
  • Futures: 12,457
  • Change: -366.5

RUSSELL (mini)

  • Close: 1,906.09
  • Futures: 1,863.3
  • Change: -50.3

Note: Updated as of 9:24 a.m. EDT

On Tuesdays, I’ll detail the strongest and weakest sectors in the entire market. I’ll tell you exactly where I’d put my money and go long, and which ones I’d avoid or even short. Using my proprietary momentum indicator, you’ll get actionable ideas on every market sector, every single Tuesday.

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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