January 9, 2023

Markets:

Stock futures rose Monday after the major averages notched their first big rally of the new trading year.

Nonfarm payrolls came in slightly higher than expectations, but wages increased at a slower pace than expected. That, and data showing a contraction in the services sector, heightened hopes that the central bank’s rate hikes are accomplishing their goal.

The New York Fed Survey of Consumer Expectations and consumer credit data are due out Monday. Later in the week, investors will look for December’s consumer price index report Thursday and big bank earnings Friday.

Brazilian stocks are expected to fall on Monday after supporters of right-wing former president Jair Bolsonaro stormed government buildings on Sunday in protest against his election loss.

Portfolio:

We enter the new trading week holding set-ups in FLYW and PDSB. We will be looking to add this week so be ready. We should have an explosive week ahead and continue to watch trend lines (right now 3900) to see if we can break above and hold. This week we have Powell and CPI – which should provide some great trading opportunities. We also have a major conference taking place being held by JPM. Expect intra-day powerful moves potentially this week based on these events. Should be exciting so please be ready and let's have an incredible session.