The major indexes are down as Wall Street digests hawkish Federal Reserve rate comments and a slowdown in the housing market — and more in Friday’s stock market recap.
Home sales dropped almost 6% in July compared to June. Sales were also 20% lower year over year from the same month.
These numbers lead many to believe we’re entering a housing recession.
Meanwhile, activist investor Ryan Cohen’s fund RC Ventures sold its entire position in Bed Bath & Beyond, causing shares of the troubled retailer to tumble 44%.
In this morning’s stock market recap video, I’ll reveal the key sectors to pay attention to… why stocks are pulling back… whether tech is overdone and why… what momentum levels are telling us about consumer stocks… an earnings update and low-hanging fruit opportunities… plus how to prepare for next week's trading action.
Why billionaires are piling into one little-known sector in preparation for what might be the worst crisis yet this coming winter.
What experts are saying about a rare 20-year supercycle.
And why parking your money in the S&P 500 over the next few months could cause you to miss out on what could be the most explosive trading opportunities.
*Stated results are typical for given period. Past performance is not indicative of any future results. Trade at your own risk. From 5/23/22 to 7/12/22 on live trades the average win rate is 100%, the average return is 15.3% over a 3 day average hold time.
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