October 12, 2023

Markets:

U.S. stock futures ticked higher Thursday as investors looked toward new consumer inflation data for greater insight on the economy.

The consumer price report for September will be released Thursday morning. Economists surveyed by Dow Jones are forecasting a 0.3% month-over-month increase for September and 3.6% rise from the prior year. Investors believe that the strength of inflation indicated in the report will play a key part in whether the Federal Reserve decides to maintain or raise interest rates at its two-day meeting beginning Oct. 31. 

The ongoing Israel-Hamas war has raised questions of a potential oil supply crunch and a resulting rise in fuel prices if the geopolitical instability spreads to neighboring oil producers in the region.

Traders will also be keeping an eye out on jobless claims numbers for the week ending Oct. 7. Atlanta Fed president Raphael Bostic and Boston Fed president Susan Collins will be giving remarks Thursday afternoon, which could give Wall Street more insight into the central bank’s stance.

Portfolio:

We step into the new trading session fully prepared and eager. Our current positions include ACMR, NTNX, PATH, AX, and TH. Today, we'll aim to secure profits in some of these holdings while keeping an eye on fresh opportunities that may arise in the coming sessions. Our trading queue is buzzing with dynamic setups, continually presenting themselves.

If we maintain our positive stance on the S&P and the broader market, grounded in the technical indicators and ongoing price developments, then be prepared for an exciting finish to 2023 and a promising start to 2024. With the impending election cycle and the opportunities it brings, the next 12 to 15 months hold remarkable potential for traders, assuming everything unfolds as expected. Stay alert and ready, folks!