May 22, 2020

Markets:

U.S. stock-index futures were attempting to climb Friday morning, with the benchmarks on track for strong weekly gain, as investors looked ahead to a three-day weekend. Equity benchmarks will look to defend their sharp weekly gains amid rising Sino-American tensions and a holiday that could test the bounds of reopening efforts from coronavirus lockdowns under way in much of the country.

Expectations that a vaccine will be developed for COVID-19, which has infected more than 5 million people and claimed 330,000 lives world-wide, according to data compiled by Johns Hopkins University, have buoyed assets perceived as risky.

However, the week has been colored by worries about U.S.-China relations, which have deteriorated in recent weeks, capping further gains for risk assets.

Portfolio:

We enter today’s session holding positions in CELH and MGM. Please be ready for new trades and or updates as we begin to position ourselves for the month of June. One of the strongest trade cycles historically has been from June – November during an election year. Should be an absolute outstanding period for us. Have a wonderful holiday weekend as well!