The major indexes slipped Wednesday morning as traders weighed the latest round of earnings reports while concern over rising rates grew.
The 2-year Treasury yield rose to 4.3% on fears the Federal Reserve will raise rates at its next meeting on May 3.
Shares of streaming giant Netflix Inc. (Nasdaq: NFLX) fell during premarket trading in response to its latest earnings report. The company beat estimates but fell short on revenue.
Netflix also plans to continue cracking down on password sharing, which it admits may drive subscribers away. The company however projects those subscribers will return and boost third-quarter subscriber growth and revenue.
In this morning’s stock market recap video, I’ll discuss why I believe stocks are overbought… where I see a divergence in the stock market… if the bond market has upside or will break down again… an earnings preview and what to expect in the next few days… plus my top stock to own right now and the stocks I’m avoiding!
Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!
P.S. This 1 Pattern Is Screaming ‘Buy’ on My Highest-Conviction Stock
I just discovered a brand-new trade alert after sorting through my Pattern Trader hitlist…
We’ve already nailed 31 of 45 trades since the strategy launched in May 2022…
And I want to do everything in my power to make these trades available to anyone who wants to receive them!
So while we usually charge close to $3,000 a year to become a Pattern Trader member, I’m allowing everyone to test it out for just $297 a month!
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@example.com!
- 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.