May 9, 2024

Markets:

Stock futures declined on Thursday as a recent slate of disappointing earnings dampened investor sentiment.

A fresh batch of quarterly earnings reports came out below Wall Street’s expectations, pushing stocks slightly lower in premarket trading. Warner Bros Discovery shares slid 4.4% after reporting a miss on the top and bottom lines, while semiconductor company Arm
lost more than 7.5% over lackluster revenue guidance. Airbnb pulled back more than 9% after a weak guidance overshadowed a first-quarter beat.

Yields were slightly higher Thursday morning, with the benchmark 10-year Treasury note yield climbing back above the key 4.5% mark. Investors have been watching treasury yields closely as questions remain on when the Federal Reserve will cut rates.

European equity markets were mixed early Thursday, as the recent flurry of earnings slowed and markets braced themselves for new messaging on the path of interest rates from the Bank of England.

Portfolio:

We enter the new trading session holding set-ups in PLTR, NVDL, TSLL, PATH, and S.  We will be looking to add today so pelase be on high alert.  We wanted to remain patient as we worked through the Jobs number this morning and afew earning reports last night.  Now we proceed and queue is lighting up.  Be on alert and ready!