June 1, 2022

Markets:

Stock futures were mostly higher Wednesday as Wall Street turned the page to another month following a volatile May.

Boosting investor sentiment, Salesforce’s first-quarter results topped expectations. The stock rose more than 8% in premarket trading.

The moves in early morning trading came after a down day for stocks, with the Dow falling 222.8 points in another choppy trading session to close out the month. The S&P 500 and Nasdaq Composite dipped 0.6% and 0.4%, respectively.

The first day of June marks the start of the Fed’s plan to reduce its balance sheet, which ballooned to nearly $9 trillion during the Covid pandemic.

With the first-quarter earnings season nearly complete and the Fed having strongly signaled its rate hike intentions for its next two meetings, stocks could struggle for direction over the summer.

Portfolio:

We enter the first trading day of June holding positions in EGY, PLTR, and ITRM. With the new month here and the queue ignite once again, we will be looking to release new triggers today. Please be on alert. The last month of the quarter and one of our favorite months of the year to trade. Seasonal trades begin to form ad traders begin to prep for the second half of the year. Great period let's take full advantage of it. Let's have a great session!