June 21, 2023

Markets:

U.S. stock futures were slightly lower on Wednesday as investors took a breather from last week’s market rally.

Elsewhere, Federal Reserve Chair Jerome Powell is set to testify before the House Financial Services Committee at 10 a.m. ET.

At the conclusion of the central bank’s meeting last week, policymakers indicated there could be two more quarter-percentage point moves on the horizon this year.

U.S. Treasury yields climbed on Wednesday as various Fed officials are due to make remarks, including Fed Chairman Jerome Powell, who is set to testify before the House Financial Services Committee. Investors will be looking to the comments for more clarity about policymakers’ expectations for interest rates and the economy.

European stocks continued the week’s negative trajectory early Wednesday, with the benchmark Stoxx 600 index down 0.17% at 8:45 a.m. London time.

Portfolio:

We enter the new trading session holding positions in NIO, PATH, DKNG, and ARLO.  Queue is now igniting with recent price action. Yesterday we decided to sit on our hands and watch price activity materialize a bit more. Now we move forward so please be ready today and expect set-ups to be released this week! Remember, 4350 on the S&P is all that matters right now.