The markets are up to start the week as Wall Street awaits the latest Consumer Price Index inflation data — and more in Monday’s stock market recap.
The S&P 500 locked in its third straight winning week following a strong jobs report. The Nasdaq also posted a win for the week.
Economists expect Wednesday’s CPI to show a slight slowdown in inflation, but we could still be in for a volatile week as the markets await and then digest the newest number.
In earnings season news, software company Palantir beat on revenue estimates but missed on earnings, reporting a loss of $0.01 per share versus an expected gain of $0.03, sending it tumbling more than 15% in premarket trading.
Beef and poultry producer Tyson Foods beat on revenue but missed on earnings as beef demand remained high while chicken volume dropped, sending shares 2.5% lower in premarket trading.
In this morning’s stock market recap video, I’ll reveal how the market is reacting to the impressive job report from last week… why the bond market is shifting lower… which sectors should remain strong in light of the current trajectory… why I'm becoming more bearish on tech and consumer stocks… plus the major report that's on the table and how markets will react later this week.
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*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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