The market stumbled to start the last trading day of February as retail stocks begin to report.
Target Corp. (NYSE: TGT) beat on both earnings and revenue estimates, but warned of a slowdown ahead and announced full-year, earnings-per-share guidance that came in below estimates. The stock rose 1.2% Tuesday morning.
Cruise company Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) fell more than 5% in premarket trading after reporting a wider-than-expected loss for the fourth quarter. The company’s 2023 guidance also came in below expectations.
Investors await reports from retailers Lowe’s Co. Inc. (NYSE: LOW), Kohl’s Corp. (NYSE: KSS) and Abercrombie & Fitch Co. (NYSE: ANF) before the bell Wednesday.
In this morning’s stock market recap video, I’ll discuss how earnings are impacting the market… why investors should be super cautious right now… an update on the bond market and whether it will break lower… which sectors are defensive right now and why… where the danger zone is and how I’m positioning myself… an update on the global economy… plus a handful of stocks I like right now!
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Several technical and fundamental factors need to line up before I consider entering a trade.
But for the first time this year, I’ve seen my No. 1 buy signal flash on my No. 1 breakout stock!
That doesn’t happen often…
That’s why I’m holding a special event at 1 p.m. ET on Wednesday, Feb. 29, to walk you through my No. 1 buy signal, and I’ll even give away my No. 1 breakout stock!
And as always, it doesn’t cost a thing to attend!
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 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 [email protected]!
- 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.