March 7, 2022

Markets:

U.S. equity futures fell Monday morning as U.S. oil prices briefly jumped to their highest level since 2008 amid the ongoing war between Russia and Ukraine.

Dow futures lost about 300 points, or 0.8%, while S&P 500 futures and Nasdaq 100 futures slid 0.7% and 0.75%, respectively. Futures came off their lows as oil prices came off their highs from overnight.

West Texas Intermediate crude futures, the U.S. oil benchmark, traded 6.3% higher to $122.96 per barrel, earlier hitting $130 per barrel at one point before pulling back partially. The international benchmark, Brent crude, traded 6.24% higher to $125.51 per barrel after earlier spiking to $139.13 per barrel — its highest since July 2008.

House Speaker Nancy Pelosi also said in a letter to Democratic colleagues that the chamber is “exploring strong legislation” to ban the import of Russian oil — a move which would “further isolate Russia from the global economy.”

Gas prices surged to their highest level since 2008, with the national average hitting $4.06 a gallon, according to AAA.

Federal Reserve officials are in the quiet period ahead of next week’s policy meeting. The Federal Open Market Committee gathers March 15-16, when it is expected to approve a quarter-point increase for its benchmark short-term borrowing rate.

A quieter week of earnings is on deck. Some big tech names like Oracle, CrowdStrike and DocuSign are scheduled to report. Rivian Automotive, Ulta Beauty and Bumble will also report.

Portfolio:

We enter the new trading session holding positions in CORN, DRD, ACH, and ITRM  We will be looking to add this week and structuring our portfolio to maximize opportunities to be created over the next few weeks due to specific events to come.  MonsterTrades is off to a strong start in 2022, but we truly do believe, the best opportunities have yet to be created and we cannot wait for the period to come.

Please be on alert today and be ready for new trades and updates.  Let's have a great session.