The markets cooled off this morning following a four-day win streak — and more in Wednesday’s stock market recap.
But the markets could not look better as a whole... We’ve seen a lot of upside and the major indices rose above their 200-day moving averages, but now it’s time for them to consolidate.
April is also bullish from a historical perspective, the third best performing month on average.
We’re also seeing another bullish sign — technology and consumer discretionary stocks are on the rise once more. When people start spending money on the things they don’t need, that’s good for the economy.
Speaking of the economy, Wednesday’s fourth-quarter 2021 gross domestic product report came in just below expectations at 6.9% versus 7.1% expected.
As I’ve mentioned before, there’s always the chance the Federal Reserve could look at a soft GDP number and decide to ease up on its interest rate hike plans, given that the markets are still shaken by the war.
Russia said it will scale back military operations near Ukraine’s capital city of Kyiv. Despite the statement, which was met with skepticism, attacks continued Wednesday.
In this morning’s stock market recap video, you'll discover why today's GDP data is a major influence on the bond market… major levels the major indices need to break… the most important sector to watch… how to navigate this market without getting hurt by volatility… whether right now is the best time to go long… plus new long and short trade opportunities.
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