January 18, 2023

Markets:

U.S. stock futures were little changed Wednesday as the corporate earnings season rolled on.

The Dow on Tuesday declined about 391 points, or 1.14%. Shares of Goldman Sachs tumbled — and dragged on the 30-stock index — after the bank posted an earnings miss. The S&P 500 dipped 0.20%. Meanwhile, the tech-heavy Nasdaq Composite was the only one among the major averages to buck the trend, rising 0.14%.

Those moves follow earnings results from big banks that suggested diverging paths ahead even for names within the same sector. Goldman Sachs’ shares fell more than 6% following a drop in investment banking and asset management revenues. Meanwhile, Morgan Stanley gained 5.9%, boosted by better-than-expected wealth management revenue.

Traders are anticipating a slew of economic reports Wednesday, including the latest data for the producer price index and retail sales.

European markets were mixed Wednesday as uncertainty persisted on the economic outlook, a topic high on the agenda at the World Economic Forum in Davos this week.

Portfolio:

We enter the new trading session holding positions in TSLL, AI, MTTR, and PINS. Queue is igniting and we will be looking to potentially add a new opportunity or two today should price continue to materialize. Keep you exit points in for our current open positions, a few are looking to push further today should premarket activity continue into the opening. Strong price action taking place and we continue to see a few sectors beginning to ignite! Would love to see it, the follow through and momentum would be spectacular! Technically we continue to build! Be ready today and let's have a great session.