Outlook 01/05: U.S. stocks futures fell Thursday after private payroll data showed the labor market is still strong amid the Federal Reserve’s interest rate hikes to tame inflation. U.S. stock futures fell after the ADP private payrolls report showed that employers added 235,000 jobs in December, well above economist estimates. Wages also increased more than anticipated, another sign that the labor market remains hot. This is what the Fed keeps harping on and why they want to keep hiking rates and to leave them elevated all year. On Friday, investors will review the December jobs report for updated data on employment and hourly wages. Since the report could have a big impact on the Fed’s next moves, it has the potential to impact the market. Investors don’t want to see big gains in wage growth, which could signal higher inflation.
/ESH23 (Mar 2023): YVAH 3876 YPOC 3864 YVAL 3850 GAP 3872.50
/ES Plan: Yesterday market closed balanced, and overnight continues on that way, moving within previous value, so these're the opening and initial balance options for today:
