January 18, 2024

Markets:

U.S. stock futures rose slightly Thursday as the market tried to recover its footing following another losing session.

Futures tied to the S&P 500 gained 0.5%, while Nasdaq-100 futures advanced 0.9%. Dow Jones Industrial Average futures fell 0.1%.

Apple shares ticked more than 2% higher in the premarket after Bank of America upgraded them to buy, calling for more than 20% upside over the next 12 months.

The 10-year Treasury yield inched above 4.1% as fresh jobs data indicated ongoing tightness in the labor market. First-time filings for unemployment insurance came in at 187,000 for the week ended Jan. 13, down 16,000 from the previous period and below the Dow Jones estimate for 208,000, the Labor Department reported Thursday.

Initial jobless claims fell sharply last week in a surprise move indicating ongoing tightness in the labor market. First-time filings for unemployment insurance totaled 187,000 for the week ended Jan. 13, a decline of 16,000 from the previous period and below the Dow Jones estimate for 208,000, the Labor Department reported Thursday.

Portfolio:

We enter this Thursday session holding set-ups in AI, AEHR, AFRM, and PLTR. Current set-ups are ripping in pre-market, now looking to see how they hold and trade after the opening bell. Patience will pay off but the real opportunity, as we've been stating, is what's to come over the next few weeks. We feel we will set ourselves up into the Election run and 2024 will provide massive opportunity across a number of sectors. Q's and a number of names we follow bounced strongly yesterday off-key trend lines. Now we watch to see the follow through. Still in the range we spoke about yesterday. Believe we will get that range break over the next few weeks with monster earning report to come. Stay patient. Please do not chase the day to day moves. Let's have a great session.