The major indexes rose Tuesday morning as several better-than-expected earnings reports indicated companies are faring better than investors initially feared.
Health care giant Johnson & Johnson (NYSE: JNJ) beat earnings estimates and raised forward guidance for 2023. Meanwhile, Bank of America Corp. (NYSE: BAC) beat both top- and bottom-line estimates as interest rates rose, further indicating there’s strength in big banks.
Investors are now looking to see how streaming giant Netflix Inc. (Nasdaq: NFLX) is holding up amid fears of a recession. Netflix reports after the close Tuesday.
In this morning’s stock market recap video, I’ll discuss why I’m cautious about the current stock market rally… what I believe may happen to the long bond… which earnings reports are coming out today and their impact… the top 3 sectors to go long and which ones to stay away from… how to navigate the market effectively in light of the Federal Reserve’s uncertainty… plus which stocks I like right now, and which ones I believe are a big sell!
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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.