Many of the stay-at-home stocks breaking out last summer are now some of the weakest names out there — and more in Tuesday’s stock market recap.
With our economic recovery well underway and consumer spending picking back up, we are in a new market environment.
There is one global ETF and one low-risk stock I want to give to you for today’s market environment. And these two plays should be safe from this week’s noise.
In today’s stock market recap, global markets are mixed as Wall Street again pushed to new record highs. Investors are weighing corporate earnings and big government reports this week.
This quarter’s biggest two-day economic meeting starts Wednesday, and markets expect the Federal Reserve to keep interest rates near zero.
Analysts expected S&P 500 companies to report earnings 24% higher than a year ago this quarter. The number is now expected to be around 27% to 28% higher for this quarter — and the remainder of 2021. Roughly one quarter of these companies have reported and 84% have beaten expectations. If the trend continues, we could see markets rally even further.
President Joe Biden will address the nation Wednesday and he’s expected to discuss details for his administration’s infrastructure plan and tax reform. Tax reform and negative Fed data would put a damper on corporate earnings news in the near future, so markets may remain choppy.
The iShares MSCI Chile ETF (NYSE: ECH) is up around 40% the last six months, and just made a recent swing high. After just missing its 50-day moving average after three down days, it is moving back up.
The top three holdings for ECH are in the Materials, Financials and Energy sectors. These sectors do well in an economic recovery. ECH has strong momentum, and I expect that to continue for the foreseeable future.
A biopharmaceutical stock is also showing a similar pullback. It recently made an all-time high and also stayed just above its 50-day moving average. The stock was up this morning and poised for another breakout…
In today’s video, you’ll discover which sector remains fragmented… why the Nasdaq is roaring back… whether interest rates will rise or fall… what happened to most stay-at-home stocks… a top global ETF… and a low-risk stock play.
We’re right in the middle of earnings season… And the numbers are crushing it!
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Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.