January 27, 2023

Markets:

Stock futures fell slightly on Friday morning as investors looked to close out a winning week for markets that saw better-than-expected economic growth and a pop in market-darling Tesla.

Earnings season continued, with Intel slumped more than 9% premarket following a dismal earnings report that missed on the top and bottom lines. Strong guidance boosted American Express despite a top-and bottom-line miss.

Stocks rose during regular trading Thursday, cheering a better-than-expected fourth quarter gross domestic product report that stoked hopes that the U.S. economy can experience a soft landing as the Federal Reserve hikes rates to tame inflation.

All three indexes are positive for the week and month. The Dow and the S&P 500 have gained 1.7% and 2.2% this week, respectively. The Nasdaq is up 3.3% on the week and is set to notch its best monthly performance since July. The Nasdaq has gained the last four weeks.

On Friday, investors will be watching for economic reports that will give more information about the state of inflation. Personal income and spending and pending home sales for December are due in the morning. The personal consumption expenditures price index, a preferred inflation measurement for the Federal Reserve, is also due. Consumer sentiment for January will also be released.

It’s some of the last data that will be released ahead of the Fed’s next interest-rate decision on Feb. 1. Investors are currently expecting a 0.25 percentage point interest rate hike from the central bank.

Portfolio:

Very nice day yesterday and we enter the last trading session of the week holding one set-up in AEHR. Super excited for what this market is doing technically and the trend lines it continues to build. Also, looking forward to the monster reports over the next two weeks and for us to get past the Fed Next Wednesday. 4100 for the bulls and 3890 for the Bears. Two monster lines. Trade everything in between until one breaks and a new trend line is formed. This is a great period to trade, truly hope folks are taking advantage of it and the service. The next several months have potential to be absolutely spectacular. Be ready today and let's have a great session.