By Jeffrey Cohen, Investment Advisor Representative
US Advanced Computing Infrastructure, Inc.
Dow, S&P 500 and NASDAQ futures all lower. Source: CNN Business.
Bonds are looking weaker, down between 0.1% and 0.9% pre-market.
MBS Trading lower this morning.
Bitcoin down slightly, trading at its support level of $20k.
Energy stocks are lower
UST Interest Rates are higher, so US Treasury bond prices are lower.
US Banks are set to open lower
Money Managers lower
Retail (wide portfolio range) lower
Coal, Mining, Steel, & Crypto (all lower)
Cannabis and Tobacco (lower, but mixed - some higher)
Chips and Semiconductors (all lower or unchanged)
Trucking and Transport / Logistics (all lower or unchanged)
Computers, Phones, IT Services, Software & Hardware (lower)
As we look at yesterday, we see that stocks and corporate/agency bonds rose.
European equities are trading lower, along with Mainland China. Japan, Hong Kong and many smaller markets traded higher yesterday / last night.
Energy trading higher.
Overall commodities (excluding energy) are down slightly.
We do have news about mortgage rates rising, and strong job growth in September 2022.
Today is a day when we test our hedging strategy. Our longs are down...can we profit by our shorts being down more? Let's find out.
Good luck to everyone in the markets today. Be safe out there.
Finally, keep your eyes on the US Treasury Bonds. We believe these are key today.