March 31, 2023

Markets:

S&P 500 futures rose slightly Friday as traders awaited a key inflation print and got ready to wrap up the first quarter of 2023.

The Federal Reserve’s preferred inflation gauge, the personal consumption expenditures index, is due to be released at 8:30 a.m. ET on Friday. Economists polled by Dow Jones expect that the core PCE, which excludes energy and food costs, gained 0.4% in February from the prior month and added 4.7% on an annualized basis.

Investors will be looking for signs that inflation is cooling, which could lead to the Fed wrapping up its rate-hiking campaign soon.

Personal income data and consumer spending will also be issued Friday morning. The final March reading of the University of Michigan’s consumer sentiment index is due at 10 a.m. ET.

Friday also marks the last day of the first quarter. The S&P 500 and Nasdaq Composite are up 5.5% and 14.8%, respectively, for the quarter through Thursday’s close. The Dow, however, has lost nearly 1%.

Portfolio:

We enter the new trading session holding set-ups in RMBS, TSLL, and PLTR. Outstanding session yesterday for us.  Looking forward to today!  So much opportunity is brewing in specific sectors and folks still continue to doubt these moves and miss it.  Imagine when the rush "back in" finally comes?

The 1st quarter is coming to a close and it's been a great one.  We look to continue to build with the second quarter.  One of our favorite cycles will begin this year end of 3rd / beginning of 4th quarter with Primaries and Caucuses.  These events always trigger sector runs based on narratives.  Few understand the opportunities this brings.  We cannot wait!  Should be a monster year ahead for us and out community!