April 25, 2023

Markets:

U.S. stock futures slipped Tuesday as traders assessed the latest quarterly figures from several major companies.'

Shares of First Republic Bank slid more than 20% after the regional bank posted its latest quarterly results. The bank said late Monday that deposits dropped 40% to $104.5 billion in the first quarter but have since stabilized.

Amazon and Microsoft are slated to report Tuesday, the first of multiple Big Tech names on the earnings schedule this week. But Ball said large-cap technology stocks may not be a market leader in the remainder of the year after an early-2023 rally.

Investors on Tuesday will get a gauge on the state of the housing prices through the new home sales numbers in March, as well as the S&P/Case-Shiller 20-city home price index data for February. Consumer confidence data for April will also be released.

Portfolio:

We enter the new trading session holding positions in IOT, BZH, and ENVX. Ready for the tech show of earnings reports to begin today after the close. Technically, it will hopefully ignite this market one way or another and remove us from the current gane – although it's been a really nice one to us! But we would love to see the next line form. Would love to see 4200 break and hold and then 4350 on the s&p. The pain trade would be real for the bears and so many would begin to chase this market. Would be a monster opportunity for us all. We patiently wait and in the meantime let's continue to pinpoint opportunity and book profits!