February 19, 2025

Markets:

Stock futures were little changed early Wednesday after a record-setting session for Wall Street.

The S&P 500 on Tuesday climbed to an all-time high, even as concerns around sticky inflation and President Donald Trump’s trade policies persist. The benchmark hit an intraday record of 6,129.63 and notched a record close at 6,129.58.

Trump on Tuesday floated the notion of imposing a 25% tariff on imported autos, chips and pharmaceuticals. Trump did not specify whether or not the potential duties would be targeted or broad, but did say they could be implemented as soon as April 2.

On the data front, the January housing starts report is due at 8:30 a.m. ET. Investors will also look through the minutes from the latest Federal Reserve meeting, set for release at 2 p.m. ET. The Fed kept rates unchanged but expressed concern over the U.S. inflation outlook.

Asia-Pacific stocks traded mixed Wednesday after U.S. President Donald Trump proposed tariffs “in the neighborhood of 25%” on autos, semiconductors and pharmaceutical imports.

Portfolio:

Nice start to the week booking INTC for 10%.  We enter todays session holding setups in APLD, GRAB, APPS, TSLL, and S.  As we mentioned yesterday we expect a bit of a choppy week, possibly slight pullback, as we head into OPEX.  But we view this as an opportunity to add for setups into March.  Overall picture has not changed and stay focused on that.  Do not get caught in chasing day to day moves.  Cannot state this enough.  Be patient and ready.  We have FOMC today!