August 29, 2023

Markets:

Stock futures were near flat Tuesday as investors looked to the final days of what’s been a difficult August for the market.

Monday’s leg up can be characterized as a respite from what’s shaping up to be a tough month for stocks. With just three sessions left in August’s trading month, the Dow is on pace to finish 2.8% lower. The S&P 500 and Nasdaq are poised for losses of 3.4% and 4.5%, respectively.

U.S. Treasury yields declined on Tuesday as investors braced themselves for a series of key economic data releases due this week that will shed light on the latest developments around inflation and the labor market, and could inform the Federal Reserve’s next monetary policy moves.

Japan’s unemployment rate came in at 2.7% for July, higher than the 2.5% in June and also higher than the 2.5% expected by economists polled by Reuters.

Portfolio:

We enter the new trading session holding set-ups in CVNA, S, IOT, COUR, NNDM, and CVE. Nice day for our holdings yesterday and we continue to patiently wait for next week, the day after Labor Day, to ignite the next period for this market when full volume returns. Please be on alert today and ready for new updates and potential trades.  Technically, this market continues to behave so well.  Getting more and more excited for the possibilities that can develop over the next few weeks.