The major indexes slipped Thursday morning as investors fear weak jobs data means a recession is on the horizon.
Weekly jobless claims rose to 228,000 versus 201,000 expected. The previous week’s jobless claims were 198,000.
These numbers indicate the Federal Reserve’s interest rate hikes are working and that the jobs market is cooling off.
Investors are hopeful this could cause the Fed to ease back on its rate-hiking campaign. But many worry the Fed has already pushed too far in its fight against inflation, and is tipping the economy toward a recession.
In this morning’s stock market recap video, I’ll discuss what I believe will happen to the bond market in the next few days… where tech and consumer stocks are headed… why health care and utilities are leading the market… if the Fed will raise rates or keep them at bay… which ETF I’m focused on… plus my No. 1 option pick right now!
Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!
P.S. The ‘Fed Pivot’ Is Finally Here
In the past two weeks, $400 BILLION has been injected into the economy.
And because of this move, a rare buy signal is flashing on one group of market-leading stocks!
That’s why I’m going live at 1 p.m. ET today, April 6, for a special presentation…
I’ll reveal how to potentially capitalize on the explosive returns we could see after interest rates peak out.
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.
Each Thursday, I’ll combine two of my favorite things into a big-money opportunity: options plays and ETFs. Using options, we can turn momentum analysis of a specific sector — or even an entire country’s stock market — into an actionable trade with double- or triple-digit upside potential. I’ll give you all the details you need to execute this plan.
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.