March 11, 2024

Markets:

U.S. stock futures fell on Monday, on track to extend last week’s losses as investors geared up for fresh inflation data.

Traders are preparing for February’s consumer and producer price indexes — which are set to release Tuesday and Thursday, respectively. These are among the last major economic reports before Federal Reserve leaders convene for their March policy meeting.

These releases come after Friday’s February jobs report, which gave investors mixed signals as to when exactly the Fed will begin cutting interest rates. While the U.S. economy added more jobs than economists anticipated, a higher unemployment rate and lighter-than-expected wage growth were encouraging signals the central bank could start easing up on monetary policy.

The February’s consumer price index coming out Tuesday is expected to show prices rose by 0.4% on a monthly basis, and 3.1% year over year, according to economists polled by Dow Jones. That’s compared to increases of 0.3% and 3.1%, respectively, in the prior reading.

Core CPI, which excludes volatile food and energy prices, is set to show a 0.3% increase on the month, and a 3.7% rise from the year-ago period, consensus estimates show. Previously, it had risen 0.4% and 3.9% on the month and year, respectively.

China’s consumer price index climbed 0.7% year-on-year in February, marking the first time in four months that the country’s inflation rate rose.

Portfolio:

Adter an outstanding week from Monday – Thursday we did have a bit of a struggle on Friday but still enjoying an outstanding month.  Please remember, every downturn over the last several months has been an outstanding buying opportunity.  Nothing has changed for this market and we are gearing up for what we have coming / develping to end March and welcome in April.  End of Q1 cycle and to start Q2 will be spectacular.  Do not chase the day to day moves but rather trade the overall trend.  Unless we break below 5000 on the S&P, nothing has changed technically.  Next week we also have Nividia;'s much anticipated AI event.  This will be sure to drive monster opportunity.  Cannot stress this enough.

We enter the new week holding set-ups in PLTR, HIMS, and PATH.  We will be looking to add a new opportunity or two based on price and queue activity.  Let's have another monster week but remain patient here.