November 15, 2021

Markets:

Stock futures pointed to a higher open Monday morning as investors monitored upbeat economic data out of China and awaited key retail sales and earnings results out from major U.S. companies later this week. 

Stronger-than-expected economic data out of China also helped lift traders' sentiment overall at the start of the week. The world's second-largest economy saw both retail sales and industrial production unexpectedly accelerate in October over last year, suggesting the economic impact from multiple COVID-19 waves and stay-in-place restrictions was beginning to ease. However, new-home prices in China fell by about 0.25% in October versus September, marking the biggest drop in more than six years as the country's real estate market came under continued pressure. 

For U.S. stocks, last week marked a brief pause after a record-setting run-up. The S&P 500 posted a weekly decline for the first time in six weeks, but remained within 0.8% of its all-time intraday high as of Friday's close. The Dow and Nasdaq were also not far off from their own record levels. 

A hotter-than-expected Consumer Price Index (CPI) last week tempered some of investors' ebullience for equities, and suggested heightened inflationary pressures were stickier than previously expected. 

Though the Federal Reserve has maintained current inflationary pressures will be temporary, sustained increases of these elevated magnitudes could prompt a quicker-than-previously-expected hike to interest rates, which would in turn impact a variety of asset classes.

Portfolio:

Happy Monday everyone!  New trading session, new trading week, let's have a strong week and continue this great period we are in.  We enter the new trading session holding positions in FCEL, SKLZ, LICY, F, and ITRM.  We will be looking to add to our holdings with new opportunities developing.  Queue continues to ignite and we love the trading environment here and the prospect for this market / opportunities for months to come.  Let's have a great session!