November 22, 2022

Markets:

Stock futures rose Tuesday morning as worries over Covid cases in China kept investor sentiment in check.

China saw its first deaths in the mainland from Covid since May over the weekend. It prompted fears among investors that the country could bring back restrictions meant to slow virus spread, which would hurt business.

On Tuesday, several Federal Reserve officials are set to speak, including Kansas City Fed President Esther George and St. Louis Fed President James Bullard.

Economic reports due out include the Philadelphia Fed’s nonmanufacturing business outlook survey and the Richmond Fed’s manufacturing index.

Investors are also watching for earnings reports from Dollar Tree, Best Buy, HP and Nordstrom. The stock market will be closed on Thursday for the Thanksgiving holiday and will close early on Friday.

European markets were fractionally higher on Tuesday as investors in the region tracked concerns among their U.S. and Asia-Pacific counterparts over China’s tightening of Covid restrictions, which are continuing to pressure output.

Portfolio:

We enter the new trading session holding positions in TGLS and AEHR. We continue to position ourselves for the weeks to come. As stated yesterday; expect low volume moves / swings this week. Do not chase day to day moves but rather position yourselves for what's to come based on technicals and sector rotations and price activity. Be ready today and let's have a great session.