November 15, 2023

Markets:

U.S. stock futures ticked higher Wednesday, as traders tried to extend a strong rally from the previous session that was sparked by tame inflation data. Wall Street also had its eyes on Washington as lawmakers tried to avoid a government shutdown.

Late Tuesday, the House of Representatives passed a bill to avert a government shutdown. The measure will go to the Senate for a vote. If cleared by lawmakers, the legislation goes to President Joe Biden. Without a funding bill, the federal government is slated to shut down at the end of the week.

The S&P 500 climbed 1.9%, while the Nasdaq Composite popped about 2.4% higher. It was the best day since April for both indexes. The 30-stock Dow
added nearly 490 points, or 1.4%.

These gains came after October’s consumer price index, a key inflation metric, came in lower than the 0.1% increase economists surveyed by Dow Jones had expected. Instead, the CPI came in flat on a monthly basis. Investors celebrated the news, sending stocks soaring on the hopes that the Federal Reserve could finally put an end to its rate-hiking campaign.

Investors will get more inflation data Wednesday with the release of October’s producer price index reading.

Portfolio:

Absolutely monster day yesterday and the runway we continued to pinpoint and point our community to is developing.  The opportunity over he next several months will be outstanding.  We enter the new trading session holding positions in PLTR, ASAN, DKNG, and GEO.  We will be looking to release new opportunities as well.  Queue continues to ignite.  Let's have another monster session and continue now to position ourselves for whats to come over the next month.