May 31, 2024

Markets:

U.S. stock futures ticked higher Friday to close out a winning month after the Federal Reserve’s preferred inflation gauge came in about as expected.

Stock futures took a leg up following the latest inflation data released Friday morning. The core personal consumption expenditures price index increased 0.2% in April, in line with the consensus forecast of economists polled by Dow Jones. Core PCE rose 2.8% on an annualized basis, slightly above the 2.7% prediction from economists.

Friday’s action comes near the end of what’s shaping up to be a winning May, with each of the major benchmarks set to register a sixth positive month in seven. The Dow is up 0.8% this month, while the S&P 500 is higher by around 4%. The tech-heavy Nasdaq Composite has gained nearly 7%, which would mark its best month going back to November.

Friday’s closing bell marks the end of the trading week and month. The three major indexes are on track to end the week with losses, but finish May higher than where they started.

Portfolio:

We enter the last trading session of the week and month holding set-ups in AMDL, PLTR, and TSLL.  Big turn in premarket after data and we want to see how we hold into the weekend.  Queue remains strong, although volume in the market has been weaker than expected.  This has caused us to pause a bit this week and just trying to stay super patient there and ready to attack opportunities.  Be on high alert.