December 5, 2022

Markets:

U.S. stock futures fell Monday as investors awaited more economic data ahead of the Federal Reserve’s December policy meeting later this month.

Wall Street is coming off its second positive week in a row, with the S&P 500 and Nasdaq advancing 1.1% and 2.1%, respectively. The Dow advanced 0.2% last week.

In other news, Tesla shares slumped more than 4% on reports of an output cut at its Shanghai factory. Macao-linked casino stocks gained on hopes of easing Covid-19 restrictions.

Those moves came after Fed Chair Jerome Powell signaled that smaller interest rate hikes could start in December. The Fed is slated to meet Dec. 13-14 and is expected to raise rates by 50 basis points, or 0.5 percentage points. On Friday, stronger-than-expected jobs report initially rattled markets, but traders later shook it off.

On the economic front, investors are expecting the November ISM services data at 10 a.m. ET on Monday. Economists polled by the Dow Jones expected a reading of 53.7.

Portfolio:

We enter the new trading week holding positions in AEHR, VERI, GRAB, CWH, and M.  Queue is igniting as we are in the final month of trading for 2022 and begin to prepare for the start of 2023.  So many trigger points for the markets over the next few weeks.  One of the most exciting periods is upon us.  Be ready and let's take full advantage of this market to end 2022.  Let's have a great session.