The market is little-changed following its worst day since June 2020 — and more in Wednesday’s stock market recap.
Tuesday’s hotter-than-expected inflation report caused the major indexes to tank. The Dow lost 1,200 points, while the Nasdaq and S&P 500 fell 5.2% and 4.3%, respectively.
On Wednesday, we have the Producer Price Index report. The PPI met year-over-year expectations at 8.7%, but disappointed excluding food and energy, coming in at 8.1% versus the 7% expected.
With inflation not appearing to slow down, investors and the market await what the Federal Reserve will do with interest rates at the next Federal Open Market Committee meeting on Sept. 20-21.
The CME FedWatch Tool gives a 0.75% hike a 70% chance, and a 30% chance for a 1.0% hike.
In this morning’s stock market recap video, I’ll discuss the CPI and what it means for the market… the PPI and how it will impact the Fed next week… how current momentum levels are impacting stocks… why put buyers are outnumbering call buyers and what it means for you… whether bonds are set to trade lower or higher following this week’s data… plus the top 2 stocks to own right now in light of the current downside pressure in the market… and the top 2 stocks to sell before price declines even further.
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’m going to share in a special live event at 1 p.m. EDT TODAY, Wednesday, Sept. 14 — 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.
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: 31,104.97.
- Futures: 31,268.
- Change: +56.
S&P 500 (mini)
- Close: 3,932.69.
- Futures: 3,961.
- Change: +12.25.
NASDAQ (mini)
- Close: 12,033.62.
- Futures: 12,168.
- Change: +48.
RUSSELL (mini)
- Close: 1,831.57.
- Futures: 1,841.1.
- Change: +2.9.
Note: Updated as of 9:22 a.m. EDT
Building on the sector analysis from Tuesday, I’ll take things a step further every Wednesday with two FREE trade alerts! I’ll identify my favorite stock in the strongest sector, and even a short opportunity from the weakest sector. That’s two trades… absolutely free… each week!
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!
- 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.
