Bob Lang and Chris Versace, portfolio managers over on Action Alerts PLUS, gave a sneak peek at how the club is approaching Tuesday's market in the video above.
So, What's Going On With the Market?
Stocks in the U.S. were bouncing back from Monday's selloff in Tuesday's trading session.
"Stocks were also given a boost from a stronger-than-expected reading of September services activity, the biggest component to U.S. GDP growth, which rose by 1 point to 61.9, well above the 50 point mark that separates growth from contraction," TheStreet's Martin Baccardax.
Baccardax also noted that the pressures concerning investors were still prevalent. He said, "global energy crunch lifting oil prices to the highest in seven years, inflation momentum accelerating amid supply chain disruptions and soaring input costs, and the specter of a U.S. default as lawmakers continue to haggle over the extension of the country's $28.4 trillion debt ceiling."
One Thing to Watch
PepsiCo said core earnings for the three months ended on September 4 came in at $1.79 per share, which is up 7.8% from the same period last year and 6 cents ahead of analyst expectations.
“We are pleased with our results for the third quarter as we delivered very strong net revenue growth while carefully navigating a dynamic and volatile supply chain and cost environment," said CEO Ramon Laguarta. "Given our year-to-date performance, we now expect our full-year organic revenue to increase approximately 8% and core constant currency earnings per share to increase at least 11%,”
Watch the full Daily Rundown here.