October 15, 2021

Markets:

Stock futures rose Friday morning to add to gains after a rally Thursday on Wall Street, with stronger-than-expected earnings and economic data helping lift the S&P 500 by the most in seven months. 

Shares of big bank stocks including Bank of America (BAC), Citi (C) and Morgan Stanley (MS) ticked up during the pre-market session. The stocks had jumped a day earlier, after these banks posted much stronger-than-expected third-quarter earnings results. Peer banking titan Goldman Sachs (GS) is also set to report earnings results before the opening bell Friday morning.

U.S. retail sales posted a surprise jump in September, climbing for a back-to-back month as Delta-related pressures on consumer spending at least temporarily eased.

Investors have at least temporarily looked through ongoing reports and company commentary around shipping challenges and heightened prices. New inflation data this week also showed price increases at both the consumer and producer levels held at historically high levels last month. 

Still, other upbeat economic data helped to counterbalance these reports, with Thursday's weekly jobless claims report showing new unemployment filings fell more-than-expected to a pandemic-era low last week. 

Portfolio:

We enter the new trading session holding positions in PSFE, AEHR, and ITRM. It's been a strong month thus far and we continue to position ourselves for the next leg in this market that we see  Today, even for a Friday, has the potential to be a bit busy for us based on pre-market activity.  Please be ready for updates and even a new position or two.  Let's have a great session!!