The major indexes fell Friday morning as banking sector concerns linger.
Credit Suisse continues to struggle as investors consider the bank’s announcement it will borrow nearly $54 billion from the Swiss National Bank.
Meanwhile, First Republic Bank (NYSE: FRC) slid 20% on news that other banks would lend aid in the form of $30 billion in deposits. This added more pressure to the SPDR Regional Banking ETF (NYSE: KRE).
With the Federal Reserve’s policy meeting looming next week, investors are considering what the banking crisis means for the Fed’s next step regarding interest rates.
In this morning’s stock market recap video, I’ll discuss what algo traders have been up to in the last three sessions and why the end of the day today is crucial… what bonds are doing and how it will impact tech in the next few sessions… if the banking crisis is behind us or if there’s more drama on the way… which Fed report is crucial and how it can impact stocks today… which sector I believe is going to rally and why… plus my top stocks that I’m loving right now!
Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!
P.S. The Market-Moving Redirect Happening Friday Afternoon!
We’re fast approaching a major event called a market redirect.
It has nothing to do with earnings, an indicator or even index rebalancing. It’s much bigger than that…
According to Lance Ippolito, upward of $4 trillion will be redirected late Friday afternoon, giving today the potential to be the best trading day of the year.
That’s why Lance is going live at 1:30 p.m. ET to share all the details, including how he plans to leverage the event.
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.
On Fridays, we’ll review the week that was… We’ll discuss how our trades did, what we learned and how to apply it to next week’s trading plan, and any developing trade setups. This video will put a bow on the week. We’ll also go over winners from my different member strategies.
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.