January 10, 2024

Markets:

Stock futures were little changed Wednesday, with investors awaiting the release of fresh U.S. inflation data and earnings.

Cryptocurrency exchanges Coinbase and Marathon Digital fell more than 3% and nearly 5%, respectively, as bitcoin prices declined. The price movement came on the back of an incorrect announcement posted to the U.S. Securities and Exchange Commission’s X account, saying that it had approved bitcoin ETFs.

The latest consumer price index report is slated for release Thursday. Economists polled by Dow Jones expect CPI rose 3.2% year over year in December.

Investors will look through the reports for clues on when the Federal Reserve may start cutting rates. Some of those expectations have been dialed back in recent days, although the odds hover at around 64%, according to CME Group FedWatch tool.

Earnings heats up Friday with results from major financial heavyweights including JPMorgan Chase and Bank of America, along with UnitedHealth Group
and Delta Air Lines.

Portfolio:

We enter today's session holding set-ups in PATH, PLTR, NVAX, IOT, SOXL, and IONQ. This week is off to an outstanding start and we are getting ready to attack this market shortly but want to be a bit patient here for best entries. The queue is igniting so we do expect a trigger today. Be ready and let's begin positioning ourselves for the next month and one of our favorite periods; earnings season!