January 13, 2022

Markets:

U.S. stock futures gained Thursday morning as investors considered a fresh read on weekly unemployment claims and wholesale price inflation out of Washington. 

The Labor Department's weekly jobless claims report showed an unexpected rise in first-time unemployment filings for last week, with these increasing to 230,000. Still, this remained near pre-pandemic levels, and continuing jobless claims improved to their lowest level since 1973. Meanwhile, the Bureau of Labor Statistics' December producer price index (PPI) showed a 9.7% year-over-year increase in wholesale prices for the end of 2021, marking the biggest jump on record in data going back to 2010. 

Wholesale prices in the U.S. raced higher in December, underscoring the widespread inflationary pressures impacting both producers and consumers in the current economy. 

Government data Thursday showed a 9.7% annual rise in the Producer Price Index (PPI) in December, marking the biggest increase since the data was first recorded in 2010. This came following a 9.6% annual jump in November.

Excluding food and energy prices, the core PPI rose more-than-expected on an annual basis, however. This measure of PPI increased 8.3% in December over the same month last year, accelerating from the prior month's 7.9% rise.

Portfolio:

We enter the new trading session holding positions in SKLZ, DLO, ZION, and continue to hold itrm until their release/update on trials.  Very nice day for us yesterday and we continue to be quick with our trades as the market continues to swing.  With earnings season set to begin tomorrow, narrative will change and we welcome it!  Everyone should welcome this and be excited for the next two months.  

Be ready today and expect a new trade and updates.  Let's continue to build momentum and have a great session.