Outlook 07/01: U.S. stock futures are steady on the first day of the third quarter after weekly jobless claims total hits new pandemic-era. First-time jobless claims totaled 364,000 for the week ended June 26, compared to the 390,000 estimate. That marked a new pandemic-era low and a decline of 51,000 from the previous week. The last time there were fewer claims was the week of March 14, 2020, just before the worst of the economic damage hit.
/ESU21: YVAH 4290 YPOC 4286 YVAL 4281 GAP 4291.75
/ES Plan: Yesterday market closed bullish (PBT 4300), but overnight looks more balanced, moving above yesterday's value, so these are the initial balance options for today:
A) If market moves above YHOD 4294 with bullish internals, buy towards PBT 4302 and ATH-ONH 4305.75
B) If market remains below YHOD 4294 with bearish internals, sell towards YVAH 4290 and YVAL 4281.
Note: Remember that new record high has been printed overnight, so it's still pending to be revisited at regular trading hours.
Market Movers
9:45 PMI Manufacturing Index
10:00 ISM Manufacturing Index
10:00 Construction Spending
10:30 EIA Natural Gas Inventory
2:00 PM Fed's Bostic Speech
4:30 PM Fed Balance Sheet
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