March 15, 2024

Markets:

Stock futures edged lower Friday as investors analyzed the fresh batch of corporate earnings and attempted to look beyond the latest inflation reading.

Thursday’s retreat came after February’s producer price index, a gauge of wholesaler inflation, advanced more than economists anticipated. Bond yields climbed in the session — with the benchmark 10-year Treasury’s reaching 4.29% — as investors wondered if the recent economic data was too strong for the Federal Reserve to loosen monetary policy.

To be sure, fed funds futures are pricing in a 99% likelihood of the central bank keeping interest rates unchanged at its policy meeting next week, according to the CME FedWatch Tool.

Investors will watch Friday morning for economic data on topics such as consumer sentiment, import prices and industrial production.

Markets:

Massive day today under the covers for the market and truly what's been driving some moves over the last few sessions with regards to semi's, tech, and some rebalancing occurring. Today is a massive day for S&P 500 index rebalancing but we also have OPEX Triple Witching Friday upon us. Expect heavy volume at the open and expect swings today. What we do anticipate would be a strong close as traders position themselves for next week.

We've been navigating quad week pretty well but the real excitement comes for next week with the Fed but also the massive AI event that is led by Nividia. It will provide insight into what will drive this sector for the next year. Massive opportunity will ignite from this event! Cannot stress this enough. Be ready today but remain patient. Expect swings!