The major indexes slipped Wednesday morning as Credit Suisse tumbled to an all-time low.
News hit that the Saudi National Bank, Credit Suisse’s largest investor, could not provide further funding, causing U.S.-traded shares of Credit Suisse to fall more than 25% premarket.
Meanwhile, we got several key pieces of inflation data Wednesday morning.
February’s Producer Price Index came in at -0.1% versus the 0.3% increase expected. Retail sales came in at 0.4%, in line with estimates.
In this morning’s stock market recap video, I’ll discuss why the market went down so much ahead of key Fed data… which sectors are oversold… where major support for the S&P 500 is… how to gauge current market action… what the most likely scenario is for the overall market in the next few days… which stocks to focus on right now and which ones to avoid… how to navigate the volatility we’re seeing… my top consumer stock, plus the ETN I’m buying puts on right now!
Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!
P.S. More Important Than Banks Crashing!
Forget the news surrounding the recent bank failures, forget the Federal Reserve…
Something even bigger is set to happen behind the scenes this week, and it could cause some stocks to soar, and others to plummet.
That’s because Wall Street is obligated to buy certain stocks and sell others.
How does it work, and what can you do to protect yourself?
Jeff Zananiri is about to reveal just that during a special live session at 1 p.m. ET today, March 15!
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.
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 [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.