Outlook 10/12: U.S. stock futures showed only a modest reaction to the CPI report but still mostly positive while Treasury yields came off previous lows, with longer-duration notes little changed. The consumer price index, a closely followed inflation gauge, increased 0.4% on the month and 3.7% from a year ago, according to a Labor Department report Thursday. That compared to respective estimates of 0.3% and 3.6%. Excluding volatile food and energy, core CPI increased 0.3% on the month and 4.1% on a 12-month basis, both exactly in line with expectations. Policymakers place more weight on the core numbers as they tend to be better predictors of long-term trends.
/ESZ23 (Dec 2023): YVAH 4410 YPOC 4395 YVAL 4390 GAP 4417.50
/ES Plan: Yesterday market closed bullish, but overnight, after CPI, looks more balanced, moving within previous value, so these're the opening and initial balance options for today: