June 23, 2023

Markets:

Stock futures were lower Friday as Wall Street headed for a losing week.

All three major averages are set to break multiweek win streaks. The Dow and S&P 500 have lost 1% and 0.6%, respectively, since the start of the week. The Nasdaq is down 0.4%, on pace to snap an eight-week win streak and post its worst weekly stretch since April.

Investors bought up technology stocks during Thursday’s session after a three-day breather from the market rally, pushing the tech-heavy Nasdaq Composite
up 0.95% and shares of Apple to a new all-time high. The S&P 500 added 0.37%, while the Dow Jones Industrial Average lost 4.81 points, pressured by shares of Boeing.

A relatively light week for economic data continues Friday with S&P Global PMI composite data for June.

U.S. Treasury yields fell on Friday as investors digested remarks from Federal Reserve officials, including Chairman Jerome Powell. Policymakers reaffirmed that further rate hikes would likely be needed to bring inflation closer to the central bank’s 2% target.

Portfolio:

We enter the last trading session of the week holding set-ups in EXEL, IQ, NIO, DKNG, and ARLO.  Roller coaster type of week but nothing technically has changed for the overall direction of this market.  Just basing here and getting ready for it's next move.  4350 is the key and love to see how growth / tech was bought up yesterday.  Friday's have been somewhat tame lately but watching price activity closely.  The real market tell will be the first hour of trading come Monday.  Be ready today.