Outlook 10/18: U.S. stock futures drop Wednesday as earnings season gained steam and investors look ahead to key financial reports. Just over 10% of companies in the SP500 have reported results. Of those that have already reported, about 78% have surpassed analyst expectations. Market continues to assess the impact of the ongoing Israel-Hamas war. Traders also parsed through third-quarter earnings reports, including results from financial institutions such as Bank of America, Goldman Sachs and Bank of New York Mellon. Housing starts accelerated in September, though at a slower than expected pace, while building permits fell, but by less than expected.
/ESZ23 (Dec 2023): YVAH 4411 YPOC 4392 YVAL 4384 GAP 4397.75
/ES Plan: Yesterday's market closed balanced, but overnight looks slight bearish, moving below previous value, so these're the opening and initial balance options for today:
