February 10, 2022

Markets:

Consumer prices in January surged more than expected over the past 12 months, indicating a worsening outlook for inflation and cementing the likelihood of substantial interest rate hikes this year.

The consumer price index, which measures the costs of dozens of everyday consumer goods, rose 7.5% compared to a year ago, the Labor Department reported Thursday.

U.S. stock futures retreated on Thursday morning after a key inflation report showed a faster-than-expected rise in prices.

Futures for the tech-heavy Nasdaq 100 fell more than 1%, while S&P 500 futures dipped 0.7%. Dow futures were down 100 points, or 0.2%.

Investors were focused on the report as a clue to how aggressive the Federal Reserve will be to curb inflation. The 10-year Treasury yield jumped to 1.97% after the report, after being at 1.51% at the end of December.

 

Portfolio:

We enter todays session holding positions in PHUN, BITF, RIOT, FUBO, PLTR, and ITRM.  Market volatility is swinging this morning after CPI and we love the trend lines.  These data points and market reactions have been absolute wild of late and we welcome all of it!  Feed us this volatility and now let's take advantage.  Be ready today and let's have a great session.