April 11, 2023

Markets:

S&P 500 futures were flat Tuesday as investors look toward the release of economic data later this week. Dow Jones Industrial Average futures were also little changed. Meanwhile, Nasdaq-100 futures dipped 0.13%.

Investors seemed to be preparing for the March readings of the consumer price index, due Wednesday, and the producer price index, out Thursday. Both inflation metrics could give further insight into how the Federal Reserve might proceed on its rate-hiking campaign.

Further, Wall Street is heading toward another season of earnings announcements, with several major U.S. banks scheduled to release their earnings reports for the first time since the series of bank crises in March.

European stock markets opened higher Tuesday after the long Easter weekend. Mining stocks made strong gains with a 3% uptick, followed by autos, which were up 1.3%. Food and beverages was the only sector trading in negative territory, with a 0.1% downturn.

Bitcoin climbed on Monday evening, topping the key psychological level of $30,000 as investors awaited key inflation data later in the week that could steer crypto prices.

China’s inflation for March came in lower than expected at 0.7% against expectations of a 1% rise in its consumer price index compared to a year ago.
Producer price index also fell 2.5% year-on-year, in line with forecasts by Reuters and after seeing a decline of 1.4% in the previous month.

Portfolio:

We enter the new trading session holding positions in AG, PLTR, ONON, CLF, and SGH . Positioned across a number of different sectors as we are in a week filled with big data reads and earnings season set to begin. Trying to be patient here allowing price to materialize this week but we do want to point out the technical trend on the overall market. It continues to build and should i corss and hold 4200, then 4350 comes quickly. Breaks and holds 4350, then a monster path is set. Yesterday we were range bound a bit, can tell market is just waiting on key data reads this week. Stay patient but be ready. Let's have a great session.