Outlook 09/14: U.S. stock futures climbed Thursday morning as traders digested a batch of economic reports. The August reading of the producer price index came in hotter than expected. It rose 0.7%, more than the 0.4% increase expected. That follows the August reading of the consumer price index. The core CPI, which excludes food and energy, gained 0.3% from the prior month and 4.3% from 12 months earlier. That compares against estimates of 0.2% and 4.3%, respectively. The August CPI reading isn’t expected to change the Federal Reserve’s course at its policy meeting beginning Sept. 19. Fed funds futures pricing data shows a 97% likelihood of rates remaining unchanged next week.
/ESZ23 (Dec 2023): YVAH 4527 YPOC 4514 YVAL 4512 GAP 4519.75
/ES Plan: Yesterday market closed balanced, but overnight looks more bullish, moving above previous value, so these're the opening and initial balance options for today:
