May 10, 2022

Markets:

U.S. equity futures climbed in pre-market trading Tuesday after stocks extended a sharp sell-off that sent all three major indexes to their lowest level year-to-date in the previous session.

Meanwhile, the benchmark 10-year Treasury note yield was above 3%, its highest level since the end of 2018, and the CBOE Volatility Index (VIX), Wall Street’s “fear gauge,” jumped above 34, well above its longer-run average of around 20.

The moves expand a period of recent turbulence for equity markets as worries around inflation, rising interest rates, and the possibility of an economic slowdown continue to weigh on investor sentiment.

On the economic data front, Wednesday's Consumer Price Index (CPI) will also be closely-watched by traders for the latest snapshot on the state of inflation in the U.S. The figure is expected to offer clues on how much more aggressively the Federal Reserve will need to act in order to mitigate rising prices.

Crude (CL=F): -$1.64 (-1.59%) to $101.45

Gold (GC=F): -$0.50 (-0.03%) to $1,858.10 per ounce

Portfolio:

We enter todays session holding positions in CENX & ITRM.  Very nice session for us yesterday. We will be adding today as queue is igniting.  Love to see the activity and volatility is fueling the set-ups now.  Be ready.  Tonight we have new earnings releases as well that can fuel growth sector with strong movement.  Great time of year, let's take full advntaage of this price activity we will have over the next few months. Let's have a great session.