April 27, 2022

Markets:

U.S. stock futures bounced Wednesday as the market attempted to recover from April’s technology-led sell-off.

Microsoft’s shares jumped more than 3% in premarket trading after the company beat analyst expectations on the top and bottom lines. The company also issued forward revenue guidance exceeding analyst forecasts.

While Microsoft’s earnings gave investors some encouragement, Google parent Alphabet’s earnings results missed consensus estimates. Management warned on the conference call of another potentially weak quarter ahead. Alphabet shares fell about 4% premarket.

In April, the S&P 500 is down 7.8%, the Nasdaq has lost 12.2%, and the Dow has declined 4.2%.

Facebook parent Meta is set to report earnings Wednesday after the bell, with Apple and Amazon reporting earnings Thursday. Investors will be watching to see if tech companies’ results prove the intense selling in April has been misplaced.

Portfolio:

We enter the new trading session holding positions in BYND and ITRM. Queue is ingiting and we hope this market will open up soon.  Market is swinging, whipping both sides of the trade around right now.  Stay patient, this type of price activity can be super profitable for those who are quick but this is also creating longer term opportunity which we cannot wait for.  We feel we are close. Let's have a great session.