October 3, 2024

Markets:

Stock futures edged lower Thursday as investors look ahead to September’s payrolls report due later this week, while tensions in the Middle East persist.

October trading is off to a rough start as escalating tensions in the Middle East dampen investors’ enthusiasm. Stocks tumbled on Tuesday after Iran launched a missile attack on Israel. Investors are preparing for further uncertainty as Israel starts a ground operation into Lebanon.

The growing fears have also driven oil prices higher. U.S. crude futures rose more than 1.5%, bringing its week-to-date advance to 4.6%.

Wall Street is also looking ahead to new labor market data, with the release of weekly initial jobless claims Thursday. The main event for traders — and the Federal Reserve as it has embarked on a rate-cutting cycle — is September’s payrolls report, due on Friday morning.

Nvidia is seeing surging demand for its next-generation artificial intelligence graphics processor known as Blackwell, according to CEO Jensen Huang.

Portfolio:

Monster week thus far and we keep marching forward.  TIGR delivered a tremendous return of over 41% and we were able to add a few positions this week on pullbacks to position ourselves for the coming weeks / month.  Remember, historically, the first two weeks of October during an election year has always been the "tough" period for the markets.  It seems for the trend to continue BUT this is a perfect opportunity to find the sectors moving and to add positions to truly take advantage of the move to come at lower prices.  We are still in range, but the one stand out to us technically right now is QQQ.  This looks to be gearing up for another monster move higher should this play out as the chart is indicating.  

No changes needed for the open today with our current holdings of TSLL, TIGR, APA, NVDL, TNA, and LUMN .  Queue continues to ignite.  NVDL is moving, have your targets working here.