Outlook 01/10: U.S. stock futures are down Tuesday as concern over higher rates lingered among comments from a closely followed Federal Reserve leader. Chairman Jerome Powell stressed the need for the central bank to be free of political influence while it tackles persistently high inflation. In a speech delivered to Sweden’s Riksbank, Powell noted that stabilizing prices requires making tough decisions that can be unpopular politically. The speech did not contain any direct clues about where policy is ahead for a Fed that raised interest rates seven times in 2022, for a total of 4.25 percentage points, and has indicated that more increases likely are on the way this year.
/ESH23 (Mar 2023): YVAH 3954 YPOC 3935 YVAL 3910 GAP 3911.75
/ES Plan: Yesterday market closed bearish, and overnight continues on that way, moving below previous value/range, so these're the opening and initial balance options for today:
