June 2, 2022

Markets:

U.S. stock futures were higher on Thursday as markets looked to bounce back from two days of losses.

Investors are awaiting employment data for insights into how employers and workers are managing inflation. ADP will post data from its national employment report at 8:15 a.m. ET on Thursday, shortly before the Department of Labor releases weekly jobless claims.

Stock futures got a lift from falling global oil prices, with WTI crude and the Brent international benchmark both down more than 2% apiece. Prices slid on a report Saudi Arabia could raise oil production following EU’s ban of 90% of Russian crude. Lower fuel prices would offer much-needed relief for a U.S. economy teetering on a recession.

Retail earnings continue this week, with Designer Brands, Lululemon Athletica and RH set to report on Thursday. Big tech names like CrowdStrike and Okta are also on deck.

Portfolio:

We enter the new trading session holding positions in DKNG, GLNG, EGY, PLTR, and holding ITRM. These set-ups remain strong and provide us exposure to both sides of the trade. Markets continue to swing but we are seeing price action really firm up while trading within a specific range. This is healthy now! We are not just blowing through support lines. Market shift could be building here and watching this closely. Consolidation now would be extremely healthy with a price build. Remain patient, we truly believe this market will reward those soon enough with monster opportunities! Let's have a great session.