Forget 'Sell in May.' Under Trump, market could be poised for summertime gains


Positions: none

Amazon Price Target as In-House Chip Business Hits $20 Billion | TheStreet Pro

Positions: Long AMZN equity.

Q1 GDP landed at +2.0% q/q, SAAR, falling short of the 2.3% consensus.

 
March Personal Income printed at +0.6% m/m, beating expectations.March Personal Spending met expectations at growth of 0.9% m/m.

 
Q1 Employment Cost Index hit the tape at +0.9% q/q, above the +0.8% expectation.

 
Initial Jobless Claims printed at 189K, well below the consensus call for 215K.

March PCE prints at +3.5% y/y, as expected. March Core PCE prints at +3.2% y/y, as expected.

Positions: none

S&P Futures: +42 vs FV.

Nasdaq Futures: +193 vs FV.

US Ten-Year Note: 4.399%

US Two-Year Note: 3.906%

US Three-Month T-Bill: 3.678%

WTI Crude: $104.80

Gold: +1.78%

Silver: +2.82%

Bitcoin: +1.08%

US Dollar Index: -0.52%

Positions: Long physical gold & silver

This morning's Market Recon column has been published:

Oil Overshadows Earnings, Powell Digs In, U.S. Plots Next Move on Iran | TheStreet Pro

Position: Long AMZN equity

S&P Futures: +29 vs FV.

Nasdaq Futures: +129 vs FV.

US Ten-Year Note: 4.4%

US Two-Year Note: 3.9%

US Three-Month T-Bill: 3.678%

WTI Crude: $105.24

Gold: +1.97%Silver: +2.9%

Bitcoin: -0.29% 

US Dollar Index: -0.66%

Position: Long physical gold and silver

Good Morning!

Time to rock. The Fed. Powell. The War. The hyperscalers. PCE inflation later. Personal Income & Spending on the way. Apple  (AAPL)  too. 

You kids better hurry up and get those push-ups in. Coffee, push-ups (or whatever is reasonable for you), repeat. Rock and roll. We have been granted a new day, gang. Let's not take that gift lightly.

For the time has come, to stand up straight. To defend those we love. To set a shining beacon of an example of what adult maturity looks like for those who follow. Be who your children think you are. You can't be the smartest, the fastest or the strongest. You can be pure of heart and mind. Make it so. Onward and upward, gang. Lock & load. Thursday beckons.

I am the one they call "Sarge" and I am filling in for Dougie today. Rah.