March 10, 2022

Markets:

Stock futures fell in early trading Thursday as peace talks between Ukraine and Russia showed little progress on key issues.

Negotiations between Russian and Ukrainian foreign ministers ended with little progress on matters including a cease-fire and safe passage of fleeing civilians.

Elsewhere in markets, Amazon shares jumped more than 6% in premarket trading after the company announced a 20-for-1 stock split and $10 billion buyback. CrowdStrike rallied nearly 11% premarket following an earnings beat and raising its outlook.

The European Central Bank on Thursday opted to keep interest rates unchanged, remaining cautious about the potential economic fallout from Russia’s invasion of Ukraine. The ECB’s decision comes ahead of next week’s Federal Reserve meeting where the central bank is expected to raise rates.

Inflation grew worse in February amid the escalating crisis in Ukraine and price pressures that became more entrenched.

The consumer price index, which measures a wide-ranging basket of goods and services, increased 7.9% over the past 12 months, a fresh 40-year high for the closely followed gauge.

Portfolio:

We enter the new trading session holding positions in CORN, DKNG, JBLU, and ITRM.  We've been somewhat muted with new trades the last few sessions as we are trying to be as patient as possible while we wait for the Fed next week.  The opportunity afterwards, once this event is over, should be massive.  Been a great start to 2022 but we love the outlook for the second half of the year with this market.  Please be on alert today.  We still want to take advantage of quick trade opportunities as they develop.  Let's have a great session and be on alert today.