February 8, 2022

Markets:

Contracts on Wall Street’s key benchmarks traded near breakeven early Tuesday after U.S. stocks closed lower to start the week in a choppy session wrought by mixed corporate earnings and renewed Federal Reserve worries ahead of a fresh inflation report due out Thursday.

Futures on all three main indexes were flat in pre-market trading after equities extended a streak of volatility that has become the norm this year so far. In Monday's main session, the S&P 500 faltered after its best weekly rise of the year last week, while the Dow was little changed and the Nasdaq continued its sell-off as pressures in technology stocks persisted. Meanwhile, the benchmark 10-year Treasury note rose to 1.92%.

The Consumer Price Index (CPI) will be closely watched on Thursday and is likely to show another multi-decade high print on inflation, a reading that could prompt the Fed to assert the more hawkish stance it has taken on. Economists expect a headline CPI print of 7.3% in January over last year, which would mark the fastest rise since 1982.

Portfolio:

We enter the new trading session holding positions in RIOT, NIO, FUBO, PLTR, and continue to hold itrm.  Strong start to the new trading week for us yesterday.  The queue, as we've been stating, is igniting and continues to deliver outstanding opportunity to us in 2022.  We are trying to be patient as the market works through inflation, earnings, and rates.  But the best is yet to come based on what is occurring within this market.  Please be ready today and let's have a great session.