March 13, 2024

Markets:

Stock futures were calm on Wednesday after Wall Street saw the S&P 500 close at a fresh high.

The S&P 500 rallied more than 1% in the previous session, along with the Nasdaq Composite after February U.S. inflation data came in about in line with expectations.

The bull market for stocks has shown signs of broadening out in recent weeks, but chipmaker Nvidia still remains a key bellwether. Shares of Nvidia rose more than 7% on Tuesday, erasing nearly all of their losses from the prior two sessions and bringing the year to date gain to about 86%.

India’s inflation in February inched down to 5.09% from 5.10% in January.

However, this figure was higher than the 5.02% expected by economists in a Reuters poll.

Data from India’s National Statistical Office revealed that food and beverages led price growth in February, recording an inflation rate of 7.76%.

Portfolio:

We enter the new session holding positions in IBIT, IOT, PLTR, HIMS, and PATH.   People still do not understand the cycle taking place in the tech sector and what AI is ueling.  Early stages still as difficult as that might be to understand for some.  The realy intriguing part, we now are seeing software and IT service based companies begin to participate as people start to realize the changes for pricing power that are coming within their sectors.  We experienced pretty good upside call lots coming in on Friday but yetsterday and Tuesday we saw monster lots not only go off in sectors we love to follow but in other sectors now with tech, expanding the scope of how this will begin to further affect outher areas.  Beyond excited to see this develop and emerge and opportunities will now begin to ignite in other areas.  

Be ready today, expect a new trade or two and we might be ooking to book a profit or two today as well.  Let's have a great session.