July 10, 2026

Markets:

U.S. futures are little changed to start Friday as investors look to finish another solid week for equities. After Thursday's rally, the S&P 500 and Nasdaq remain on pace for weekly gains, while the Dow continues to trail.

A pullback in oil prices helped improve overall market sentiment after geopolitical concerns eased. Investors have also shifted their focus back toward corporate fundamentals, with earnings season now just around the corner.

The semiconductor group may see some added attention today as SK Hynix makes its Nasdaq debut under the ticker SKHY. The listing could create some short term rotation within the memory space, although the longer term AI demand story remains firmly intact.

Overseas markets were mostly positive overnight, led by strength in South Korea, adding to the constructive tone heading into today's session.

Portfolio:

We head into the final trading day of the week holding one position in ONFS.  Monster return yesterday at the open in RAM and we needed it.

The QQQ is trading modestly lower before the open and remains between an upside gap near 723 and a downside gap around 713. With price sitting between those two levels, today's action could be more about consolidation than expansion. A slower session would be perfectly healthy following yesterday's advance.

Bitcoin continues to grind higher, providing another tailwind for crypto related names, while most other premarket movers remain relatively quiet.

Our focus is beginning to shift toward what comes next, and that is earnings season. This is one of our favorite times of the year. New leadership emerges, fresh trends develop, and momentum begins to build across sectors. We believe the next several weeks will present some outstanding opportunities as companies begin reporting.

Stay patient today.