Morning Reads

Morning Reads




Real Quick

  • The S&P 500 futures are 1.0% below fair value; the Nasdaq 100 futures are 1.1% below fair value; and the DJIA futures are 0.9% below fair value
  • Key factors driving the futures market:
    • Jump in Treasury yields (2-yr note yield up to 3.94% and 10-yr note yield hits 3.51%)
    • Carryover momentum
    • Festering growth concerns with Fed and other central banks poised to raise rates in aggressive manner
    • Some geopolitical angst after President Biden says U.S. forces would defend Taiwan if China attacked it
  • Suez Canal to raise transport fees for all vessels 10-15%, starting January 1, 2023
  • World Bank President Malpass tells CNBC that the globe might be heading for a recession in 2023
  • China lifts the two-week lockdown in Chengdu
  • UK market closed in observance of Queen Elizabeth II funeral
  • Cryptocurrencies down sharply amid risk-off sentiment and rising rates
  • Brokerage research calls of note:
    • Downgrades: ADBE, ESS, FIS, LH, NCR, NTAP, TROX, UDR, VNTR
  • WTI crude futures -2.9% to $82.67/bbl; nat gas futures -3.8% to $7.47/mmbtu; copper futures -0.9% to $3.48/lb
  • 2-yr note yield +9 bps to 3.94% and 10-yr note yield +6 bps to 3.51%
  • Today's economic data: September NAHB Housing Market Index at 10:00 a.m. ET

Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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