April 28, 2022

Markets:

Stock futures jumped in early trading Thursday as the market tried to recover some ground lost during this month’s sell-off, and investors reacted positively to earnings from Meta Platforms.

A slew of corporate earnings reports drove market sentiment Thursday.

Shares of Meta surged more than 14% following a beat on earnings, a sign that investors may see signs of relief in the beaten-up tech sector. Shares were down 48% on the year heading into the results.

Meanwhile, shares of Qualcomm gained more than 6% in extended trading on the back of strong earnings, while PayPal rose roughly 3% despite issuing weak guidance for the second quarter.

Stocks have struggled this month amid concerns about slowing global growth, rising inflation and the Federal Reserve’s monetary tightening. The S&P 500 was down 7.7% for April — on pace for its biggest monthly decline since March 2020. The Nasdaq Composite has lost more than 12% since the start of April and is headed for its worst one-month performance since October 2008. The Dow has been the relative outperformer, losing about 4% this month.

Portfolio:

We enter the new trading session holding positions in ASAN, GNS, and continue to hold itrm.  We will be looking to potentially add today as queue continues to begin to ignite and spark strong price activity over the last week compared to the previous months.  We feel the real opportunity trades are just developing and about to trigger should this price momentum continue on.  This is what excites us right now! Tonight we have two more heavy weights releasing earnings; AAPL and AMZN. Cannot wait!  Let's have a great session and be ready today!