February 9, 2022

Markets:

Stock futures advanced Wednesday morning as investors considered another batch of solid quarterly corporate earnings results and looked ahead to more reports.

Concerns around inflation and the Federal Reserve's next monetary policy moves remain key areas of uncertainty for investors. And new data on these fronts is due later this week, with the January Consumer Price Index (CPI) expected to show a fresh 39-year high rate of inflation.

Mortgage application volume dropped last week to reverse gains from the prior period, as rising rates deterred purchases and refinances.

Disney, Mattel, MGM Resorts and Uber Technologies will release results after the bell on Wednesday.

Investors are also preparing for Thursday’s Consumer Price Index report, which will give an update on the inflation picture. The Fed has already signaled a monetary policy pivot in order to address the historically high price increases.The inflation data is estimated to show that prices rose 0.4% in January, for a 7.2% gain from one year ago, according to Dow Jones.

Portfolio:

We enter the new trading session holding positions in CFVI, RIOT, NIO, FUBO, PLTR, and ITRM.  Every position is trading higher in premarket and if we hold into the opening we may book a quick profit or two.  Very nice day for us yesterday and we will be looking to potentially add as well.  Again, we remind all of you, the queue is igniting!  After the latest CPI reading this week and majority of earnings reports released, this market should be an absolute technical dream to trade.  Let's take full advantage of this and let’s have a great session today!