U.S. stocks are capitalization-weighted and large-cap stocks are holding the Nasdaq and S&P 500 indexes up near record levels. There continues to be vulnerability and these indexes may be topping out. Buying breakouts is not the play. Pullbacks offer lower-risk entry opportunities, and I’ve identified three great ones — and more in today’s stock market recap.
In the stock market recap, global stocks are mixed as investors weigh new inflation data and positive corporate earnings.
Hot inflation data and possible changes to the bond-buying program aren’t the only factors investors are worried about. COVID-19 infections are rising in Asian countries, adding to fears that new variants may bring a resurgence to other parts of the world.
The Consumer and Producer Price Index figures this week show inflation running hot. Chair Jerome Powell will give us a better idea of what the Federal Reserve thinks about these spikes in prices and what action, if any, will be taken.
Mid and small caps have been consolidating, and I expect there could be a relative strength reversal between these and large-cap stocks.
Akamai Technologies (Nasdaq: AKAM) provides online software and services to businesses. AKAM is coming off a swing high and has pulled back to its 50-day moving average. The stock has been on a strong run since March and will look to continue its upward trend after the pullback.
A second stock also pulling back from a swing high is the fourth-largest cable operator in the United States. The third pick for today is a company I’ve mentioned before, and it is the leading 3D modeling provider. I’ve been waiting for a pullback on this stock, as its one-year return is 351.84%.
In today’s video, you’ll discover which segment of the market is most vulnerable… which index we need to stay away from… whether financials are a good bet right now… an update on Fed policy… and three hot pullback opportunities.
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.