August 11, 2022

Markets:

Stock futures rose on Thursday after all the major averages posted sharp gains in the prior session on the back of a better-than-expected July inflation report.

Disney shares jumped more than 8% in premarket trading after the media giant posted stronger-than-anticipated subscriber numbers for the last quarter, along with earnings and revenue that topped expectations. Disney also said it would raise prices for Disney+.

Hopes that inflation is peaking drove the rally after the consumer price index for July came in at 8.5%, slightly cooler than the 8.7% expected by analysts surveyed by Dow Jones and a slowing pace from the prior month.

Earnings season continues Thursday with reports from Rivian, Illumina, Poshmark and more. July producer price index data is also slated for Thursday.

Portfolio:

We enter the new trading session well positioned and holding positions in MLCO, MTTR, WEN, and holding itrm.  Great session yesterday for our setups and we look for continuation today.  Queue is once again igniting and we love the price activity in front of us.  Be on alert and ready today.  Let's have a great session.