February 21, 2025

Markets:

U.S. stock futures were little changed early Friday after the major averages slid following a lackluster earnings forecast from retail giant Walmart.

Traders are coming off a losing session in which the Dow shed 450 points. The S&P 500 lost 0.4% and retreated from its recent all-time highs, while the Nasdaq Composite fell nearly 0.5%. Investors pointed to a smattering of reasons behind the market’s sell-off in addition to Walmart’s 6.5% dip, including lingering inflationary concerns and declines in shares of Palantir.

But the market’s fears on Thursday may have been slightly overblown, according to Art Hogan, chief market strategist at B. Riley Wealth Management. He added that Friday’s economic data releases, which include the latest purchasing managers’ index readings and January’s existing home sales, will point equities in a direction to end the week.

On a week-to-date basis, the S&P 500 is on pace for a slim gain of less than 0.1%, while the Nasdaq Composite is off 0.3%. The Dow is the underperformer, tracking for a 0.8% loss over the period.

Portfolio:

Grind week and expected as we stated at the start of it.  OPEX type of action. What we would love to see is SPY reclaim 611 today and not even wait for Monday.  Monster flow came in yesterday with SMH due to NVDS earnings next week.  NVDA can set the stage once again for the AI theme that is exploding and still in its early stages. 

Reminder, today is OPEX!  Expect swings.  It's ok and expected!  No changes needed in current setups of QPLTR, APLD, and TSLL.  We are setup nicely for the next two weeks and might possibly add today.  Stay patient here.