Outlook 09/20: U.S. stock futures gained on Wednesday morning ahead of the latest interest rate decision from the Federal Reserve as the recent pop in oil prices eased and Treasury yields backed off multi-year highs. The Fed is widely expected to hold rates steady at 2 p.m. ET, but investors will be paying close attention to the summary of economic projections and the press conference of Fed chair Jerome Powell for clues as to whether the central bank will hike one more time this year. The Fed hiked its benchmark rate in July to the highest level in more than 22 years. Fed futures prices signals just a slight chance of about 29% that the Fed would raise rates in November.
/ESZ23 (Dec 2023): YVAH 4496 YPOC 4492 YVAL 4472 GAP 4492.50
/ES Plan: Yesterday market closed bullish (PBT 4522), and overnight continues on that way, moving above previous value, so these're the opening and initial balance options for today:
