February 16, 2023

Markets:

Stock futures fell Thursday as traders digest another hot inflation report along with jobless claims showing the economy is holding up amid the Federal Reserve’s rate hikes.

Stock future slid further after January’s producer price index, another inflation measure, rose 0.7% on the month while economists surveyed by Dow Jones expected a 0.4% increase. Initial jobless claims fell for the week ending February 11, per a Labor Department report.

The new data comes after January’s consumer price index and retail sales report were both higher than expected, suggesting that the Federal Reserve may have further to go in its efforts to tame inflation.

The Russell 2000, the small cap benchmark, jumped 1.09% during regular trading on Wednesday, notching its third positive day in four – and outperforming the three major averages.

The index is also on track for a 2.2% jump week to date.

Portfolio:

We enter the new trading session holding positions in PLTR and CFLT.  We expect a wild session ahead with the markets swinging as we digest the latest data reports.  Stay patient here.  Trend still remains and we will receive further opportunity from this.  Be ready and let's have a great session.