November 15, 2022

Markets:

Stock futures rose Tuesday as traders looked ahead to the release of more key U.S. inflation data and digested retail earnings.

Walmart shares jumped in premarket trading after the company beat Wall Street earnings and revenue estimates and boosted full-year guidance. Home Depot reported strong results too but kept guidance in place for the full-year. Its shares dipped slightly.

The producer price index, which measures wholesale inflation, is set for release at 8:30 a.m. ET. The report comes after the latest consumer price index data showed signs of inflationary pressure abating last month, thus sparking a sharp rally to end trading last week.

Federal Reserve governors Christopher Waller and Lael Brainard spoke Sunday and Monday, respectively, about the potential future path of monetary policy. Waller said the market was overly optimistic and should brace for higher rates, while Brainard said the central bank could ease off rate increases.

Philadelphia Fed President Patrick Harker, Fed Governor Lisa Cook and Fed Vice Chair for Supervision Michael Barr are set to speak Tuesday.

Elsewhere, Taiwan Semiconductor, Louisiana-Pacific and Paramount jumped after regulatory filings showed that Warren Buffett’s Berkshire Hathaway had bought new positions in the first two, and raised its stake in the last.

Earnings season continues this week with retail reports from Target, Lowe’s, Bath and Body Works, Macy’s, Kohl’s and Foot Locker on deck.

Portfolio:

We enter the new trading session holding positions in AI, APPS, FUBO, and SNAP.  Nice day yesterday considering where the markets wanted to go and we loved to see the price activity develop technically.  Today, positions should continue to march forward and we expect new opportunities to trigger as well.  Queue is lighting up and we love to see the continues activity.  Please be ready today and let's have a great session.