April 5, 2023

Markets:

U.S. stock futures were lower on Wednesday as traders assess the state of the global economy following a losing session.

The Dow Jones Industrial Average futures fell by 15 points, or less than 0.1%, while S&P 500 and Nasdaq-100 futures were also down less than 0.1% each.

Wednesday’s moves come as concern over higher rates simmered once again. New Zealand’s central bank overnight hiked rates by 50 basis points, noting that inflation was “too high and persistent.”

On Tuesday, investors digested the latest job openings report that suggested the Federal Reserve’s efforts to cool the labor market might finally be having an effect. In February, the number of available positions fell below 10 million for the first time in nearly two years.

Meanwhile, the energy market added to uncertainty this week after OPEC+ said it would cut output by 1.16 million barrels of oil per day.

On Wednesday, traders are expecting the latest ADP private payrolls report before the bell. Economists polled by Dow Jones are expecting a rise of 210,000 jobs in March, down from an increase of 242,000 in the previous month.

Portfolio:

We enter the new trading session holding positions in AG, ASAN, IOT, and PLTR.  As expected, a battle now is in place technically for the next leg.  We cross and hold 4200 and we have a monster move in place.  We think 4000 – 4200 is the air in between we navigate through.  Allow price to materalize and then be rewarded with next level opportunity.  Be on alert today and lets have a great session.