Inflation Data

Outlook 01/13: U.S. stock futures fell slightly on Wednesday as the market struggled for direction for a second day amid rising rates, political uncertainty and a still raging pandemic. Traders digested the latest inflation-data release, as the U.S. consumer price index rose 0.4% in December. 10-year yield traded at 1.18%, its highest level since March. Expectations for additional fiscal stimulus is one of the reasons behind the steady move higher in yields. President-elect Joe Biden is expected to release details on his economic plan on Thursday.

/ESH21 Value: YVAH 3800 YPOC 3793 YVAL 3787 GAP 3793.25

/ES Plan: Yesterday market closed balanced, but overnight looks slight bearish, moving within previous value, so these are the initial balance options for today:

A) If market moves above LIS YPOC 3793 with bullish internals, buy towards ONH 3805 PBT 3817 and GAP 3823.

B) If market remains below LIS 3793 with bearish internals, sell towards ONL 3776.50 and HVEs 3768-3754.

Market Movers

9:30 Fed's Bullard Speech

10:00 Atlanta Fed's Business Inflation Expectations

10:30 EIA Petroleum Inventories

1:00 PM 30-Year Note Auction

1:00 PM Fed's Brainard Speech

2:00 PM Fed's Harker Speech

2:00 PM Treasury Budget

2:00 PM Fed's Beige Book

3:00 PM Fed's Clarida Speech

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