Outlook 04/13: U.S. stock futures U.S. stock futures point to higher open after consumer prices shot higher in March, given a boost both by a strong economic recovery and year-over-year comparisons to a time when the Covid-19 pandemic was about to throttle the U.S. economy. While the inflation numbers look high, many economists as well as policymakers at the Federal Reserve expect the increase to be temporary. Fed officials have said they won’t adjust policy based on short-term jumps in inflation readings.
/ESM21: YVAH 4118 YPOC 4113 YVAL 4110 GAP 4121.25
/ES Plan: Last session market closed balanced, but overnight looks more bullish (PBT 4141) printing a new record high, so these are the initial balance options for today:
A) If market remains above LIS YVAH 4118 with bullish internals, buy towards ATH-ON 4127 and PBT 4141.
B) If market moves below LIS YVAH 4118 with bearish internals, sell towards YVAL 4110 and HVE-ONL 4101.
Note: Remember that new record high has been printed overnight, so it's still pending to be revisited at regular trading hours.
Market Movers
12:00 PM Fed's Daly Speech
12:00 PM Fed's George Speech
12:00 PM Fed's Harker Speech
12:00 PM Fed's Barkin Speech
1:00 PM 10-Year Note Auction
3:00 PM Fed's Bostic Speech
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