March 30, 2023

Markets:

Stock futures rose Thursday, building on the sharp gains from the previous session, as traders bet the regional banking crisis has stabilized.

Regional banks ticked higher in the premarket, with the SPDR S&P Regional Banking ETF (KRE) advancing nearly 1%. The ETF has gained 7% from its March 23 crisis low of $42.24, as investors posit that the central bank has reined in any further banking contagion. Shares of Western Alliance and PacWest gained 3% and 2%, respectively.

Weekly jobless claims increased by 7,000 to 198,000, adding to hopes that the Fed could slow down its tightening campaign because the labor market is cooling. 

The Bank of Thailand on Wednesday raised its benchmark interest rate by 25 basis points to 1.75%.

The central bank said the Thai economy is expected to continue to expand, driven by tourism and private consumption, while noting heightened uncertainty over the recent turmoil around banks in the U.S. and Europe.

Portfolio:

We enter the new trading session holding positions in AI, NU, TSLL, and PLTR. Queue is igniting and we will be looking to add today, please be ready!  Our thesis remains on this market and continues to build.  The hated rally by many moves forward and we expect a big type of swing session tomorrow – the final day of the month and quarter!  We think the second quarter will be a monster one for trend traders!