September 15, 2022

Markets:

U.S. equity futures slipped on Thursday morning as investors looked ahead to several economic reports scheduled to come out in the morning.

Wall Street is coming off a choppy session in which the major averages posted modest gains. The Dow on Wednesday closed slightly higher, by 30 points, after falling more than 200 points at one point. The S&P 500 rose 0.3%, and the Nasdaq Composite advanced 0.7%.

Stocks sought stability after a hotter-than-expected inflation report on Tuesday sent them tumbling to post their worst day since 2020. August’s consumer price index report showed headline inflation rose 0.1% on a monthly basis, despite a drop in gas prices.

Adobe announced on Thursday morning that it has a deal to acquire design software company Figma in a deal worth about $20 billion.

Shares of railroad companies rose before the bell Thursday following a tentative, last-minute labor deal with the unions representing railway workers that is expected to avert a strike.

The long-awaited ethereum merge took effect overnight. The software upgrade switches the ethereum network to proof-of-stake from proof-of-work, a move that should significantly reduce energy consumption for the blockchain network.

European markets rose in early trading Thursday, with banking stocks taking the lead.

Portfolio:

We enter the new trading session holding positions in STEM, AI, COMM, and YELL. We expect further whip saw type of activity until the Fed decision this month. After this is released, we have a large pathway toward end of year and based on indicators we expect one of the best trading patterns to emerge and provide outstanding trading opportunities to close 2023. Include mid-terms and the opportunities it brings, and we have so much to get excited for. Stay patient here and be ready for further updates and a potential new trade alert.