The stock market stumbled Friday morning following the release of another hot inflation report.
While Thursday’s gross domestic product data came in at a solid 2.7%, within the expected range, personal consumption expenditures rattled investors.
The PCE price index rose 0.6% in January and 4.7% from the previous year, above analyst estimates.
Consumer spending also came in above estimates, at 1.8% versus 1.4% expected.
These numbers suggest inflation accelerated at the beginning of the year, stoking fears that the Federal Reserve will have to keep rates higher for longer than anticipated to curb inflation.
In this morning’s stock market recap video, I’ll discuss which day of the week is big for algo traders and why… what to expect from the markets in the next few sessions… how to gauge current momentum levels… which Fed data is crucial for more upside from stocks… an update on earnings season… which sectors to watch right now… plus which way I believe tech will go.
Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!
P.S. I Just Cracked the Code to a Bear or Bull Market!
I believe I’ve cracked the code to the stock market… It involves one specific chart pattern and 146 little-known stocks!
In fact, I’ve discovered a candlestick pattern with a historic win rate of 100% over the past five years on some of the most explosive stocks in the market.
They’re not speculative biotechs, risky penny stocks or crypto companies… And you won’t find a single one of them in the S&P 500!
I’m so excited about this discovery, I just held a special presentation to reveal exactly how I trade the pattern and these companies.
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.
