March 3, 2023

Markets:

U.S. stock futures rose Friday as investors pondered the Federal Reserve’s rate-hiking path in light of fresh commentary from central bank speakers.

Those moves come as U.S. Treasury yields retreated. The benchmark 10-year yield fell more than 6 basis points to 4%. The 2-year rate dipped to 4.855%.

The major averages are on their way to a positive week. The S&P 500 is up 0.28%, on pace to snap a three-week decline, while the Nasdaq has a 0.6% gain. The Dow is also up 0.6% on the week.

On the economic data front, the Institute of Supply Management is due to release its Non-Manufacturing Purchasing Managers’ Index (PMI) report on Friday morning. Investors will also listen for further commentary from central bank officials, including Fed Governor Michelle Bowman and Richmond Fed President Thomas Barkin.

Cryptocurrency prices fell on Friday as investors weighed the latest financial woes at Silvergate Capital and assessed what a potential bankruptcy at the crypto bank could mean for the broader crypto industry.

Portfolio:

We enter the last trading session of the week holding set-ups in TSLL, CENX, FLNG, VKTX.  Positions are on the move this morning.  Nice week and we continue to position ourselves in specific sectors that we see momentum and trend trading exploding further.  We also see the potential for a few new sectors to explode with opportunity over the next several weeks as price activity has really picked up.  Last month of the first quarter, we want a monster one!  Let's have a great session, enjoy the Friday, stay patient but be especially ready for early next week when the majority of opportunity ignites.