The S&P 500 and Nasdaq opened lower to start the second quarter of 2023 as OPEC+ cut oil production by 1.16 million barrels per day, causing prices to spike.
Rising oil prices added pressure to an economy already struggling with rate hikes and trouble in the Financials sector, fueling investor fears of a recession.
Several key pieces of employment data also stand to impact the market this week. We have the JOLTS report on Tuesday, the ADP Employment Report on Wednesday, jobless claims on Thursday and data on the employment situation on Friday. The market is closed for Good Friday ahead of the Easter holiday on Sunday.
We’ll also hear from Cleveland Federal Reserve President Loretta Mester and St. Louis Fed President James Bullard on Tuesday and Thursday, respectively.
In this morning’s stock market recap video, I’ll discuss why I’m becoming slightly bearish on the market… which sector is the most vulnerable… the biggest Fed data to pay attention to today… which sectors are prime for upside gains… why an energy rally is key right now… what small-cap stocks are telling us about the Fed… and where the biggest opportunities exist this week!
Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!
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And at 2 p.m. ET today, April 3, former institutional consultant and Wall Street analyst Garrett Baldwin is holding a live class to reveal all the details about this man, and the metric he used.
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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.
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 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.