June 17, 2024

Markets:

Stock futures were little changed on Monday morning as traders start a holiday-shortened week.

The major averages were mixed last week, with the blue-chip Dow posting its third losing week in four, while the S&P and Nasdaq rallied to record highs and notched their seventh up week in the last eight.

This week, investors will assess if that rally can continue, with cracks emerging in the market outlook.

This week will be a holiday-shortened week, with markets closed Wednesday for the Juneteenth holiday.

Investors are monitoring May retail sales data, due out on Tuesday, as well as home sales and housing starts data later in the week. Lennar, Kroger, Darden Restaurants and CarMax will report quarterly earnings.

European markets opened higher Monday as investors shook off negative sentiment from last week and looked ahead to the Bank of England’s latest interest rate decision.

Portfolio:

We enter the holiday shortened week holding positions in GBTC, MARA, amd SG.  Expect a week filled with swings.  At least one pretty wild session as its options expiration week.  But, tech and especially semi's remain hot and we look to see this sector continue to build a massive runway.  Majority of people still refuse to aknowledge what's taking place in tech land and the revolution that AI is creating.  The next 2 to 5 years will introduce new technologies and capabilities which will ignite so many opportunities.  This is just beginning.  Be ready this week.