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This is based on a Marvel comic from the 1980s. Cloak and Dagger were little-known characters whose high point was teaming up with Power Pack. This version of the story does not seem to be part of the Marvel Comics universe , and alters their backstory. For example, this is set in New Orleans rather than New York City.
The story starts with a couple of pre-teen children. One is a little blonde girl, the other a young black boy . Their intercut stories overlap thanks to an exploding oil rig. A dozen years later, their lives still have damage from that night's tragic events.
Once the characters are established, the storyline can begin. The girl's father was an engineer for the Roxxon Corporation, which owned the afore-mentioned oil rig. They are obviously the Big Bad of the show. Cloak also has a sub-plot concerning a corrupt cop, Detective Connors (J.D. Evermore).
The two heroes resist the call to adventure, and instead are caught up in their own petty sub-plots. Cliches abound. Despite their many crimes and misdemeanours, the heroes are shown as worthy of forgiveness while other characters are not.
The two so-called heroes try to deal with the consequences of the previous episode. Cloak is still on his amateurish vengeance quest, which interferes with his hobby playing on the High School team.
Dagger has police problems of her own. A female detective is on her tail, so she has to get enough money to buy a new identity and leave town. This involves a mad-cap scheme to rob someone's wedding reception.
Dagger stays on the run. She will not be able to escape in the stolen honeymoon car, so she tries taking the bus instead. Luckily the lady detective now sees Dagger as a victim, not as the highly motivated career criminal she really is.
The same events are shown from Cloak's perspective.