Outlook 01/17: U.S. stock futures traded lower Tuesday as investors attempted to keep building on early 2023 momentum and looked ahead to more corporate earnings. Welcome back from the holiday weekend. It’s only been two weeks, but 2023 has been kind to stocks. Even though the Federal Reserve has stuck with its plan to keep raising rates to bring inflation down, recent data show consumer prices cooling off, even as the job market remains robust. While investors await the Fed’s next rate decision, on Feb. 1, in the meantime they will be processing the first wave of quarterly earnings reports.
/ESH23 (Mar 2023): YVAH 4011 YPOC 3996 YVAL 3973 GAP 4015.75
/ES Plan: Last NYSE session market closed bullish, but overnight looks slight bearish, moving within previous value, so these're the opening and initial balance options for today:
