First, don’t forget to join me, New Money Crew’s Lance Ippolito and Joy of the Trade’s Jeff Zananiri at 11:30 a.m. EDT today for our WealthPress Live Roundtable!
The markets are flat following Tuesday’s reversal that saw the major indices finish the day in the red — and more in Wednesday's stock market recap.
The Nasdaq and S&P 500 both fell about 0.3%. They were up as much as 2% and 1.3%, respectively, as Wall Street rallied following Tuesday’s Consumer Price Index data that came in just above expectations.
Wednesday’s Producer Price Index showed an increase of 11.2% from a year ago. It’s the biggest increase on record since the data was tracked, starting in 2010.
The PPI is not as important as the CPI. While prices at the wholesale level can impact what consumers pay at the register, consumers can pull back on their spending habits while producers must spend regardless of inflation.
In other news, earnings season started Wednesday morning, with JPMorgan reporting a $524 million hit due to market dislocations related to the war-time sanctions on Russia.
In this morning’s stock market recap video, you'll learn why the market is so fragmented right now… major levels on the 11 sectors and which one appears to be gaining ground… which stocks are leading once again… a key update on the latest Federal Reserve data… what to expect the next few days from the market… plus my top ETF to play with option pick.
On May 3, the Federal Reserve could do something it hasn’t done in over two decades…
Goldman Sachs expects it to raise interest rates by 50 basis points!
The last time the Fed did this, it sent shockwaves through the entire stock market. So I want to make sure we prepare our portfolios for what’s to come…
I’ve been working on something to get ready for this massive shift… And I’m going to break down the strategy and the No. 1 sector play I believe will rip once the Fed makes its move — for free!
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