June 27, 2022

Markets:

U.S. stock futures rose on Monday morning following a major rebound last week from this year’s steep declines. Despite the bounce, Wall Street is preparing to wrap up the worst first half for stocks in decades.

Those moves followed a major comeback week that saw the Dow industrials jump more than 800 points, or 2.7%. The S&P 500 popped 3.1%, and the Nasdaq Composite surged 3.3%.

Those moves followed a major comeback week that saw the Dow industrials jump more than 800 points, or 2.7%. The S&P 500 popped 3.1%, and the Nasdaq Composite surged 3.3%.

Nike will report earnings for its fiscal fourth quarter after the bell Monday, ahead of a handful of other key reporters this week including Bed Bath & Beyond, General Mills, Constellation Brands and Walgreens.

On the economic front, Wall Street is expecting the latest reading of durable goods orders to come out Monday before the bell.

Traders are also watching for the pending home sales report, which is expected at 10 a.m. ET on Monday.

Portfolio:

We enter the new trading week holding 3 positions, AEHR, ALLY, and holding ITRM.  We will be looking to release new opportunities this week as the queue continues to ignite but want to monitor price activity within the overall market for the first hour of trade today before deciding on direction.  We expect a strong week of opportunity as traders begin to position themselves for the following quarter and summer months ahead.  Be ready and lets have a great week and session!