Morning Reads

Morning Reads





  • S&P 500 futures are 0.3% below fair value; the Nasdaq 100 futures are 0.3% below fair value; and the DJIA futures are 0.1% below fair value
  • Key factors driving the futures market:
    • The need for the Bank of England to intervene again in UK gilt market raises concerns about financial stability
    • Slowdown concerns piqued by reports that China is introducing new restrictions again in some Chinese cities because of rising Covid cases
    • Worries about rising interest rates (10-yr note yield hit 4.00% overnight)
  • The Bank of England said it will also buy index-linked gilts from Oct. 11-Oct. 14 to mitigate dysfunction in the market and "fire-sale" dynamics
  • President Biden and G7 leaders to have a virtual meeting today to discuss Ukraine support and accountability for Putin, according to Reuters
  • Japanese Prime Minister Kishida expresses support for Bank of Japan's easy monetary policy
  • The September NFIB Small Business Optimism Index checked in at 92.1 versus 91.8 in August
  • American Airlines (AAL) raises Q3 revenue growth guidance to up ~13% compared to 2019 levels versus prior guidance of up 10-12%
  • Brokerage research calls of note:
    • Upgrades: ABC, AMGN, ELF, LULU, SGEN
    • Downgrades: QRVO, SWKS, SPWR, VTRU, ZM
  • WTI crude futures -2.0% to $89.22/bbl; nat gas futures +0.9% to $6.49/mmbtu; copper futures -0.3% to $3.42/lb
  • 2-yr note yield unchanged at 4.30% and 10-yr note yield +4 bps to 3.92%
  • There is no other economic data of note today

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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