March 28, 2022

Markets:

Stock futures were slightly higher Monday morning as a week filled with key economic reports kicked off, and investors continue to keep a close eye on the Federal Reserve’s planned interest rate hikes.

Shares of Tesla popped more than 5% in premarket trading on Monday on news it wants to split its stock so it can pay a stock dividend to shareholders.

The Securities and Exchange Commission filing said Tesla will ask at its annual shareholders meeting “for an increase in the number of authorized shares of common stock … in order to enable a stock split of the Company’s common stock in the form of a stock dividend.”

Elsewhere on Monday, parts of The Treasury yield curve inverted on Monday, raising some recession concerns. Earlier on Monday, the yield on the 5-year Treasury note rose to 2.6361%, while the 30-year yield was down less than 1 basis point to 2.6004%.

Investors continue to keep a close eye on the Fed. Wall Street firms from Goldman Sachs to Bank of America penciled in half-point hikes in future Fed meetings this year after the central bank’s chair Jerome Powell vowed to be tough on inflation and said rate increases could become more aggressive if necessary.

Investors continue to keep a close eye on the Fed. Wall Street firms from Goldman Sachs to Bank of America penciled in half-point hikes in future Fed meetings this year after the central bank’s chair Jerome Powell vowed to be tough on inflation and said rate increases could become more aggressive if necessary.

Portfolio:

We enter the new trading week holding positions in; BITO, FNGU, NU, AG, JEF, and holding itrm.  All positions look to start the week in positive terriotry but we will monitor closely today for any change of direction.  We love the opportunities coming forward for the month of April, historically, a positive month for the markets.  Queue continues to ignite but we want to remain cautious with the end of month as well as end of quarter rebalancing takes place.  Last few quarters have been pretty wild with traders rebalancing, keep that in mind.  Let's have a great session.