The major indexes rose Friday morning on a regional bank rebound and Apple earnings beat.
JPMorgan Chase & Co. (NYSE: JPM) upgraded Western Alliance Bancorporation (NYSE: WAL), Zions Bancorporation (Nasdaq: ZION) and Comerica Inc. (NYSE: CMA) to overweight, saying that the banks were “substantially mispriced” due to short-selling activity.
Western Alliance gained more than 34% while beleaguered PacWest Bancorp (Nasdaq: PACW) jumped 54%. The SPDR S&P Regional Banking ETF (NYSE: KRE) also rose 2.4%.
Meanwhile, Apple Inc. (Nasdaq: AAPL) beat both top- and bottom-line estimates for the second quarter, partly thanks to strong iPhone sales. Shares rose more than 2% during premarket trading.
In this morning’s stock market recap video, I’ll discuss what algo traders were up to last week… which sectors are starting to show major vulnerability… if earnings has changed the sentiment in the overall market… which sector remains the most vulnerable… which sector is looking like it’s coming back once again… which stock in the Utilities sector looks red hot right now… if the global economy is influencing stocks during earnings season… plus a review of the 11 major sectors and bond market!
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P.S. Exposing 1 of Wall Street’s Best-Kept Secrets
Billions of dollars flood in and out of stocks every day…
And when just a fraction of that money hits a single stock, that injection of capital has the potential to send it exploding higher over the next 24 hours.
It’s one of Wall Street’s best-kept secrets…
That’s why my good friend Chuck Hughes is planning to pull back the curtain and reveal how the rest of us can target these stocks.
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.
On Fridays, we’ll review the week that was… We’ll discuss how our trades did, what we learned and how to apply it to next week’s trading plan, and any developing trade setups. This video will put a bow on the week. We’ll also go over winners from my different member strategies.
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 firstname.lastname@example.org!
- 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.