May 12, 2026

Markets:

U.S. stock futures slipped on Tuesday, weighed down by higher oil prices, as traders looked ahead to the release of April’s consumer price index reading.

West Texas Intermediate futures jumped 3% on Tuesday to trade above $101 per barrel. Brent crude climbed 3% to above $107. Those gains built on Monday’s advance, after President Donald Trump called the month-old ceasefire between the U.S. and Iran “unbelievably weak” and said it was “on massive life support” after rejecting an “unacceptable” counterproposal from Tehran to end the war.

In its latest counteroffer, Iran has insisted on war reparations, full sovereignty over the Strait of Hormuz, the release of frozen Iranian assets and the need to lift sanctions.

Traders are also awaiting the April consumer price index reading is due at 8:30 a.m. ET. Economists polled by Dow Jones are calling for headline inflation to have gained 3.7% from a year earlier. They anticipate April’s CPI will have grown 0.6% from the prior month.

Wall Street is coming off a winning session, with the S&P 500 and Nasdaq Composite reaching fresh record highs.

Portfolio:

We head into today holding setups in FLNC, SOUN. MX, and ACHR.  SOUN stop adjusted to 8.00 here.

SPY continues its relentless grind higher. 740 is now becoming our key resistance level while 736.38 remains important support.

Remember, we are living through an AI revolution in real time. Every pullback continues to create opportunities as the next basket of leaders emerges from this generational buildout.

Patience today.

As we have discussed the last few sessions, OPEX this Friday remains the wildcard and could create some violent intraday swings and roller coaster action. But nothing has changed regarding the bigger picture trend.

Let's have another great day!