The major indexes dipped Wednesday morning as the market digested the latest earnings reports — and more in Wednesday’s stock market recap.

Chipotle missed both top- and bottom-line estimates, causing shares to fall more than 4%.

Meanwhile, CVS and Uber both came in above analysts’ estimates. Their shares are up 2% and 7%, respectively.

Investors are also still considering Federal Reserve Chair Jerome Powell’s comments to the Economic Club of Washington on Tuesday afternoon.

While Powell didn’t indicate when the Fed would cease raising rates, he noted that inflation is beginning to ease. The central bank’s target rate for inflation is 2%, which he believes will take until 2024 to achieve.

In this morning’s stock market recap video, I’ll discuss why the Federal Reserve’s target rate is unrealistic without further rate hikes… why stocks remain close to the 200-day moving average… if the Dow will break out to the upside or fall to the downside… my expectation for the long bond in the next few sessions… if momentum will continue to build or break down… which stocks I’m targeting right now to the long side, plus the ones I’m targeting to the downside!

Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!

P.S. Bargains DO Exist in the Market 

I love a good bargain, don’t you?

And little do people know… hefty bargains do exist in the stock market! You just have to know where to look.

The “pricing mismatch” I just discovered requires traders to disregard the share price and focus on the options…

And thanks to this mismatch, even a tiny 1% move in a stock could lead to gains as high as 31%… 41%… even 46% or more in a matter of days.

I just held a special presentation to show this “pricing mismatch” in action and how to apply it to options trades. So if you love a good bargain…

Watch the Event Here

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]!

Check back each morning for the Roger Scott newsletter and the most important news and numbers in the WealthPress stock market recap.