April 5, 2022

Markets:

U.S. equity futures stumbled in pre-market trading Tuesday after a rally in tech led stocks higher to start the week. Investors are monitoring the war in Ukraine and bracing for the possibility of new sanctions against Russia.

Recession jitters were at bay on Monday after a closely-monitored portion of the Treasury yield curve inverted last week and spooked investors over the possibility of an imminent economic contraction. The phenomenon has a history of predicting a recession, with each of the last eight slowdowns dating back to 1969 preceded by a yield curve inversion. As of Monday morning, the yield on the benchmark 10-year note remained below that on the shorter-term 2-year note.

Uncertainty around the crisis in Eastern Europe also continues to be a headwind for investors. JPMorgan CEO Jamie Dimon in his widely-read shareholder letter warned that the war in Ukraine is likely to meaningfully slow the U.S. and global economy. In the U.S. specifically, the bank estimates the U.S. economy will grow roughly 2.5%, a downgrade from the institution’s initial GDP forecast of 3%, with larger cuts to forecasts on Russia and Europe’s economic outlooks.

West Texas Intermediate futures were up 0.9% at $104.23 per barrel. Brent crude gained 0.7% to $108.30.

Traders are preparing for the first-quarter corporate earnings season, which is set to begin next week.

Portfolio:

Outstanding start to the new trading week and the first full week of a new quarter. We enter todays session holding opportunities with; QS, PLTR, ZI, NU, and ITRM. Let's continue to navigate this market and isolate further opportunities, especially with earnings season set to begin next week! Let's have a great session.