Markets are holding steady following two days of Federal Reserve-driven selling — and more in Thursday’s stock market recap.
The major indices, led by the Nasdaq, sank lower over the past two days after a number of Fed officials called for more aggressive tightening to fight inflation.
The minutes from the most recent meeting show officials were considering larger-than-usual rate hikes of 50 basis points after last month’s 25 basis point raise.
There is some good news, though — weekly jobless claims fell to 166,000 last week. That’s the lowest number since 1968.
This caused bond yields to rise Thursday, pushing the 10-year Treasury yield above 2.6%. So it’s no longer inverted with the two-year yield. However, the five-year Treasury yield remained higher than the 30-year yield, still inverted.
In this morning’s stock market recap video, you'll discover whether stocks will remain bullish or if they’re ready to sink even further… whether energy stocks are done rallying or still have more upside left… why volatility levels are lower than usual and what it means… and which two sectors I'm targeting right now, along with the ones I believe will sag.
And the Federal Reserve could do something extreme!
So I’m going live at 1 p.m. EDT on Wednesday to give away my No. 1 sector play for the next six months… for free!
Markets have been resilient lately despite a war and interest rates that are almost certain to rise again soon. So this is a confusing time for some traders.
Join me to go over the only strategy I know of that’s been able to crush S&P 500 returns by 9 ½ times over the past 12 years.*
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