The strongest stocks that show up on my scan tend to stick on that list… sometimes up to a few months. There’s a new information technology stock on my scan and it has strong upward momentum. The Communication Services sector has been consolidating, and I think this IT stock and others in the sector have more upside potential — and more in today’s stock market recap.
In the stock market recap, global stocks are mixed as investors weigh inflation data and corporate earnings.
China reported a year-over-year export growth of 32.2%. This provided proof of a solid economic rebound, but inflation is still a concern. The June data for the consumer price index (CPI), a key inflation indicator, was released today. It showed prices that consumers pay for goods and services increased 5.4% year over year — the biggest annual increase since 2008.
Investors should be careful with tech stocks. Tech companies have to exceed earnings expectations by a wide margin this year to justify their current record-high stock prices. With tech stocks at overbought levels, high earnings expectations and rising interest rates around the corner, investors should be very cautious.
The Technology, Consumer Discretionary and Real Estate sectors are extremely overbought and levels are unsustainable. I’m bullish on the Industrials and Materials sectors.
There’s a broad range of stocks that are currently rallying in the S&P 500. There’s a new stock on my CSI scan. It’s an information technology stock with a one-year return of 115.77%. It’s also the world’s leading advisory and research firm in the world.
In today’s video, you’ll discover the threats and pitfalls in the market right now… which sectors offer the most vulnerability… which sectors are prime for take off… and which stocks I’m following in the S&P 500 and Nasdaq 100.
We’ve all heard of insider trading…
It’s unethical and indefensible, and the punishment — jail — fits the crime.
But this doesn’t stop corporate insiders from using their information advantage by entering trades before others — bulking up their wealth.
Meanwhile, everyone else is left scrambling to get in after their shares have catapulted the stock’s value to new heights…
These corporate insiders are literally pumping their own stocks, and doing it 100% legally… We don’t know about you, but we don’t think that sounds fair.
So the Future of Wealth’s Lance Ippolito has decided to even the odds.
Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.