The major indexes slid lower Tuesday morning as inventors awaited the latest inflation data and news regarding the current debt ceiling debate.
President Joe Biden and House Speaker Kevin McCarthy are scheduled to meet at 4 p.m. ET Tuesday afternoon to discuss the debt ceiling.
Treasury Secretary Janet Yellen said Monday failing to raise the debt ceiling would result in an “economic catastrophe.”
Yellen also mentioned regulators aren’t anywhere close to passing the policies needed to limit the short selling of regional bank stocks, which have started to fall again following their rebound Monday morning.
PacWest Bancorp (Nasdaq: PACW) dropped more than 8% during premarket trading while the SPDR S&P Regional Banking ETF (NYSE: KRE) slipped 0.8%.
In this morning’s stock market recap video, I’ll discuss why some areas of the tech market are starting to look like a bubble… where the bond market will go next… which report we need to pay close attention to this week… if earnings revisions are getting stronger or weaker… if China is pulling the economy lower… plus which sectors offer the best opportunities right now!
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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 just held a special presentation 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 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.