The broader indexes are on the move up following lighter-than-expected inflation data — and more in Wednesday’s stock market recap.
The Consumer Price Index rose 8.5% year over year versus 8.7% expected. July’s number was also much lower than June’s 9.1% figure, indicating that inflation is easing a bit.
The markets ripped higher, with Nasdaq futures rising more than 2% in premarket trading while S&P 500 and Dow futures both rose more than 1%.
Tesla CEO Elon Musk sold nearly $6.9 billion in Tesla stock between Aug. 5-9, according to regulatory disclosures. This news comes as his upcoming trial with Twitter resumes following his decision to back out of his $44 billion deal to buy the social network.
Earnings season also continues with Walt Disney set to report. Investors are keen to see how the company’s subscriber numbers add up, especially in light of Netflix’s unprecedented subscriber losses the past two quarters.
In this morning’s stock market recap video, I’ll reveal an update on the CPI and what to expect following the news… how the bond market will react in the near term… the top sector to benefit from current economic conditions… the bottom stock to sell right now… the top stock to buy… plus an update on volatility and what it means for the market.
At 1 p.m. EDT on Wednesday, Aug. 10, I’m going live to reveal my No. 1 Frontrunner Stock for the rest of 2022…
Not only that, but I’ll also discuss the core factors behind what I call “Frontrunner Stocks,” how to build your own custom ETF, portfolio management and more.
I’ll even go into great detail on the formula used to backtest the Frontrunner Portfolio, and share the results!
*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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