Stock Market Outlook This Week: October 17th – October 21st
Do you want to make money trading penny stocks? The old-age saying “The trend is your friend” might come in handy. While most of your everyday cheap stocks to buy are untethered from the overall market, broader sector trends can be a rising tide to help lift the prices of specific stocks. We’ve seen this happen throughout 2022 with oil stocks, marijuana stocks, green energy stocks, and, most recently, bank stocks.
Economic Data Pushes Markets Lower
We’re heading into a week on the heels of one of the craziest trading weeks of the year. Last week was incredibly active and very volatile, and, yes, new lows were put in on the S&P 500 (NYSE: SPY), Nasdaq (NASDAQ: QQQ), Dow (NYSE: DIA), & Russell 2000 Small Cap Index (NYSE: IWM). Some of the significant drivers of bearish sentiment include all of the latest inflation data released for September:
- September CPI Report Live: Consumer Price Inflation Report Is Out, Here’s What It Shows
- September PPI Report Live: Producer Price Inflation Report Is Out, Here’s What It Shows
Both reports showed that inflation hadn’t gone away, and it’s still higher than Wall Street had anticipated. Though the figures have continued declining, they haven’t dropped enough in the eyes of analysts. What’s more, these figures are being weighed against the backdrop of the Federal Reserve’s next monetary policy decision to hike rates. Will there be a 75 basis point rise, or, dare I say, will we get a full point increase?
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Minutes from the September FOMC meeting revealed that there’s not much of a chance that the Fed pivots in its hawkish tone. The minutes also dove deeper into the FOMC’s directives on the Fed Funds Rate, GDP projections, bonds, and the overall economic outlook. But nothing in them appears to have calmed the nerves of investors.
What To Watch In The Stock Market This Week
This week continues the string of important economic data that could shed some light on the state of the global economy. There’s also plenty of Fed speak during the second half of the week that will surely captivate investors’ attention in the stock market. The start of earnings season should present some exciting trading action as the Q3 earnings season continues heating up. Sectors that could feel some tremors include financials, energy, communications, manufacturing, and the ongoing focus on technology.
This isn’t a complete list of all stock market events this week, but of the ones going on during the next five days, these are some of the most prominent that could sway markets the most:
Stock Market News & Events For Monday, 10/17
Monday eases into the week with light economic data. NY Empire State manufacturing will be in focus for U.S. markets. Later in the evening, China’s economic status will come to light. Third quarter GDP and September Industrial Production should shed some light on how one of the largest global economies is performing. Chances are, any market reaction to that data will reflect in overnight futures on Monday and premarket trading on Tuesday.
Stock Market News & Events For Tuesday, 10/18
We get some German economic sentiment data a few hours before U.S. Redbook and September Industrial production figures come out on Tuesday. For those unfamiliar, Red Book data shows sales-weighted year-over-year same-store sales trends. It can signal consumer spending and short and medium-term trends for retail investors. The last read was 8.3%, which decreased from the October 4th read of 12.3%.
Stock Market News & Events For Wednesday, 10/19
Wednesday’s stock market news and events begin seeing things heat up. UK CPI and PPI data come out early in the morning for U.S. investors. We also get Eurozone CPI and Core CPI data for September. The global economic stage has come into focus, with investors weighing specific pivots made by other central banks and tax strategies enacted in places like the UK.
Closer to the U.S. stock market opening bell, we will see the latest September building permits, and housing starts data released. This will give a glimpse at the state of the beaten-down housing market that has faced heavy strain in the face of rising rates. Crude oil inventories round out the Wednesday morning data flow.
The afternoon session will see Beige Book data released. This will show information on economic conditions from Bank and Branch directors. Ideally, it should show the change in economic conditions since the previously published report and give some sense of regional trends across the 12 Federal Reserve Districts.
Wednesday also kicks off the Fed speaking schedule. The FOMC’s Bullard will speak during the late evening at 7:30 PM. Futures traders and Thursday’s premarket sentiment could be impacted by any comments made regarding policy.
Stock Market News & Events For Thursday, 10/20
Jobs data will be one of the highlights of Thursday’s premarket trading activity. Philly Fed manufacturing, new orders, and employment data will also likely get weighed by the market. Existing home sales will keep the housing market in focus following Wednesday’s housing starts data. Meanwhile, the 1:30 PM – 2:05 PM ET period will be jam-packed with Fed commentary from Governors Jefferson and Cook and the FOMC’s Bowman.
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Stock Market News & Events For Friday, 10/21
Friday’s a lighter day for U.S.-related data. It will be interesting to see if UK retail sales and details from the EU Leaders Summit will impact markets. Surely, the premarket speaking engagement from the FOMC’s Williams will be in the spotlight before the stock market opens at 9:30 AM on Friday.
Notable Earnings This Week October 17-October 21
Earnings season begins heating up this week with banks and several big-name public companies reporting. Some of the notables include:
- Bank of America (NYSE: BAC)
- Charles Schwab (NYSE: SCHW)
- Johnson & Johnson (NYSE: JNJ)
- Netflix (NASDAQ: NFLX)
- Lockheed Martin (NYSE: LMT)
- Hasbro (NASDAQ: HAS)
- Tesla (NASDAQ: TSLA)
- Procter & Gamble (NYSE: PG)
- Abbott Labs (NYSE: ABT)
- IBM (NYSE: IBM)
- Danaher Corporation (NYSE: DHR)
- Philip Morris (NYSE: PM)
- Union Pacific (NYSE: UNP)
- AT&T (NYSE: T)
- Snap Inc. (NYSE: SNAP)
- KeyCorp. (NYSE: KEY)
- Nokia (NYSE: NOK)
- American Airlines (NASDAQ: AAL)
- Boston Beer Co. (NYSE: SAM)
- Verizon (NYSE: VZ)
- American Express (NYSE: AXP)
- Schlumberger (NYSE: SLB)
This Week’s Stock Market Snap Shot
The question now: Will there be a more significant stock market crash with Earnings Incoming? It doesn’t matter what you’re into; Day Trading, Swing Trading, Options Trading, Long Term Investing, Futures Trading, or Crypto Trading; last week set the stage for more volatility in the stock market this week. If you don’t have the proper strategy in place, trying to make money in the stock market today can be impossible…at least, that’s what mainstream stock market news outlets are hoping for.
Analysts have been preaching that their goal is to make you an “informed investor” with technical analysis while your 401Ks, IRAs, and long-term investment portfolios are crashing. But there is another way to do this “stock market game,” which presents a wealth-building opportunity for intelligent investors & traders right now.
YES! That means making money during a recession with some of the highest inflation in decades. But the secret to trading isn’t complicated. Knowing where to find this opportunity and learning how to trade stocks, options, and futures the right way is the real “secret” that most retail traders & investors overlook.
How do you get started in the stock market this week? How do you make money in the stock market right now? Is this the best Stock Market for Beginners? Find out LIVE when you tune in to True Trading Group’s Stock Market LIVE Stream on Sunday, 10/16/2022, @ 8:30 pm ET on YouTube.
