Wall Street Heads Toward Fourth Straight Week of Losses

Global stock markets and U.S. futures dropped this morning, meaning U.S. stocks are well on their way toward a fourth week of consecutive losses. 

In an attempt to kick-start negotiations with the Trump administration, House Democrats claim they’re scaling back their proposal for a new stimulus package. However, Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell said providing affordable loans to small businesses and further support to unemployed Americans is the government’s highest priority. 

But despite signals of a global economic rebound in the third quarter, the upturn may be losing steam… 

In today’s video, I’ll discuss whether stocks are oversold or not… current momentum levels for major indices… and two stocks that are bucking the last two-week downturn.