Stock Market This Week: What To Watch October 10

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Stock market forecast and outlook for this week: October 10, 2022 to October 14, 2022

If you trade penny stocks or higher-priced stocks, what happens in the stock market this week could set the pace for the rest of the year. Over the past week, the 2022 stock market crash continued as broader markets remained bearish.

While not quite making bottoms like last week, there was some strong selling, particularly on Friday. Major indices and corresponding ETFs fell sharply. The SPDR S&P 500 (NYSEARCA: SPY), Invesco Nasdaq (NASDAQ: QQQ) and SPDR Dow Jones (NYSEARCA: DIA) completely erased gains from earlier in the week.

Why was the stock market down last week? Economic data, including jobs numbers, fueled fears of tighter Fed measures at the November Fed meeting. Better than expected US jobs data reinforced the argument that a tight labor market means the economy is not in recession and things are still “good” for now.

Economic data revive fears of a stock market crash and recession

Investors speculated that a Fed pivot was unlikely despite dozens of companies announcing layoffs. The initial thought of a ‘pivot’ came after the Reserve Bank of Australia hiked interest rates by 25 basis points. Since this was smaller than expected, viewers became optimistic. The bank also said it has already hiked rates significantly, although further tightening is still needed.

Even the United Nations got involved. It warned that the world was on the brink of a recession that could hurt developing countries. According to the UN, this would be due to interest rate hikes in developed countries such as the USA

“Advanced economy rate hikes hit the most vulnerable hardest… Some 90 developing countries have seen their currencies weaken against the dollar this year.”

What to watch in the stock market this week

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This is a massive week for economic events and we will also see a more robust profit plan to come out. Pepsico (NASDAQ:PEP), Walgreens Boots (NASDAQ:WBA) and big banks like JP Morgan (NYSE:JPM), Citigroup (NYSE:C), Morgan Stanley (NYSE:MS) and others will lead the way.

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Certainly, policymakers will be the highlight, and Wednesday’s FOMC meeting minutes will pull back the curtain on everything Fed members discussed last month. This is not an exhaustive list of all stock market events this week, but of the events over the next five days, these are some of the most important ones that could impact the markets the most:

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Stock Market News & Events For Monday, 10.10

Monday eases into the week of commentary and minimal economic data. Chicago Fed President Evans will speak before the stock market opens at 9:30 am ET. Separately, the European Central Bank Lane speaks at 9 a.m. ET. Later in the session, Federal Reserve Vice Chairman Brainard will speak. This could bring some volatility into the second half of the trading day on October 10th.

Stock market news & events for Tuesday, 10.11

Things get hectic on Tuesday and Wednesday. The ECB Lane speaks before the US markets open, followed by a speech from the Fed this morning. FOMC members Harker and Mester speak just before the lunch break. We will also see US consumer inflation expectations which may or may not weigh on sentiment. Meanwhile, more policymakers speak during the 2pm hour, including the ECB’s Lane, Bank of England Governor Bailey and MPC member Cunliffe.

Cunliffe in particular has also come under the spotlight for his discussions on cryptocurrencies. The BOE Deputy Governor previously said that regulators should accelerate their efforts to create clear rules for crypto and that “the development of regulatory regimes supports, not hinders, innovation by reducing the risk of confidence-destroying crashes and providing a framework for innovators to innovate.”

We’ll see if there are any comments on this stance and how it may affect cryptocurrencies and blockchain stocks when the crypto policy is mentioned.

Stock Market News & Events For Wednesday, 10.12

Wednesday will probably be a day that most will look to. That’s because at 2pm ET we get the FOMC meeting minutes from the last Federal Reserve meeting in September. If you recall, this meeting prompted traders to take a step back to reassess what some had hoped would be a turning point for the market. That was not the case, and of the top 10 takeaways from the September Fed meeting and FOMC statement, many were hung at Jerome Powel’s press conference.

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Specifically, to the question, “What are the chances of a recession?” Powell said he doesn’t know the “probabilities of a recession,” but there’s a very good chance we’ll have below-trend growth. Certainly, investors will be looking at the minutes of the Fed meeting to see if any stones have been left unturned and whether or not the current rate stance has already been burned into the recent stock market downturn.

Alongside the FOMC minutes, we will see economic data out of the UK which will report GDP and Manufacturing Production figures. US PPI data is released before the market opens and could give way to speculation on economic conditions and whether Fed policy has started to work from the producer side of the economic equation. OPEC is due its monthly report and we will have comments from the Bank of England’s Pill, ECB President Lagarde, Fed Barr and after the closing bell, FOMC member Bowman.

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Stock exchange news & events for Thursday, 13.10

The stock market will slowly slow down on October 13, but the foot will not be off the gas for a long time. While German September CPI is released, US September CPI, core CPI and jobless claims are likely to be closely watched.

If you missed the CPI report for the last month read this article and if you missed the PPI data you can click here.

We will also see crude inventories and later in the night China reports September PPI and CPI data. In terms of speakers, Bank of England’s Mann will be providing comments much ahead of the stock market’s opening bell.

Stock exchange news & events for Friday, 14.10

Friday’s economic data includes September retail sales and import/export figures. We also get corporate inventories and consumer sentiment and inflation expectations in Michigan. Fed Governor Cook is due to speak at 10:30 am ET and Baker Hughes rigs could make for an exciting afternoon session for energy stocks.

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BONUS: Stock market news and events for Saturday 10/15

What is the bonus for next week? While it’s not an action-packed day, there are a few events to consider that could set things up for the following week. Notably, Bank of England Governor Bailey is due to make comments early Saturday morning at 9:00 a.m. ET. We will also get comments from the FOMC when Member Bullard speaks at 1:15pm ET.

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This week’s stock market snapshot

This is a quick snapshot of what’s happening in the stock market this week. These are some catalysts that could affect sentiment and set the overall trends. Will the stock market crash continue or will a bottom finally be reached? That’s the biggest question investors and traders will be asking themselves over the next week of October 2022.

CPI inflation data and PPI inflation data will be released this week. Both should move the stock market. These inflation reports will no doubt have been viewed as key indicators of whether the Fed will remain or reverse an aggressive stance. The ultimate goal is to avoid a recession and hopefully end the current stock market crash.

This week in the stock market, it might be best not to focus on which stocks to buy. Perhaps it’s better not to rely too heavily on stock market forecasts. Perhaps it’s better to be reactive and be prepared for whatever happens in the stock market this week.

The stock market crash was back in full swing last week after a brief recovery in the stock market. Trading volatility is at an all-time high. Whether you’re interested in day trading, swing trading, options trading, long-term investing, futures trading, or crypto, it’s important to have a strategy.

How do you start on the stock market? How to make money in the stock market this week Is this the best exchange for beginners? Find out LIVE by tuning in to True Trading Group’s Stock Markets Livestream on YouTube tonight, Sunday 10/09/2022 at 8:30pm ET.

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