February 15, 2023

Markets:

U.S. stock futures slipped Wednesday following the release of January’s hotter-than-anticipated consumer price index.

Inflation data for January came slightly above economists’ estimates, indicating a potentially longer path in the Federal Reserve’s fight against rising prices. The consumer price index increased by 0.5% for the month and 6.4% from the prior year, compared to estimates of 0.4% monthly and 6.2% annually, according to Dow Jones’ survey of economists.

Investors will also be looking toward the latest retail sales data to gauge consumer demand. The National Association of Home Builders/Wells Fargo Housing Market Index, industrial production and business inventories data will be released on Wednesday morning. 

The U.K. inflation rate dropped to 10.1% for January, down from 10.5% in December, according to data from the Office for National Statistics.

The rate is lower than Reuters economists’ expectations of 10.3%.

Inflation has consistently fallen after hitting a 41-year high of 11.1% in October.

Portfolio:

Another outstanding session yesterday and we begin todays session holding set-ups in CFLT, AI, CPRI, and TGTX.  We will be looking to potentially add today but do want to evaluate trade data at the open and also specific sectors we are monitoring for continued momentum.  Market had every chance to break back below 4100 on the s&p but refused.  For the bulls however, 4200 remains a wall and we need to break through that for further upside movement.  But right now, we love the trend we are in and will continue to expose every opportunity.  Be ready today and let's have a great session.