March 29, 2022

Markets:

Stock futures rose Tuesday morning, putting the major averages on track to build on the previous session’s gains.

Growing hope for a Russia-Ukraine ceasefire appeared to help investor sentiment on Tuesday morning. The price of U.S. benchmark West Texas Intermediate crude, which spiked during the invasion, fell more than 4% to $100 per barrel.

To be sure, both sides have said they are not close to reaching a deal. Ahead of the negotiations in Turkey, Ukrainian Foreign Minister Dmytro Kuleba said on that “nothing is agreed upon unless everything is agreed upon.”

In fixed income, the 5-year Treasury note rose above the 30-year on Monday and held there on Tuesday, marking the first inversion since 2006. The shift stoked some recession fears, although economists typically watch the spread between the 2-year and 10-year rate, which remains positive.

Consumer confidence and home price data to be released Tuesday, ahead of Friday’s monthly jobs report. Economists expect to see 460,000 jobs added in March and the unemployment rate to fall to 3.7%, according to Dow Jones estimates.

Portfolio:

We enter todays sessions holding positions in NU, JEF, HUT, BITO, and itrm.  We will be looking to potential book a profit or two today should this price activity in premarket continue to materalize.  Based on queue activites and potential trade set-ups early on, could see a trigger or two as well.  Be on alert for updates and let's continue to position ourselves for the months to come with this market.  Let's have a great trading session.