Outlook 10/30: U.S. stock futures trade higher Monday morning. This week's FOMC announcement on interest rates would typically be the big-name event for investors, but not this time around. While a Fed hike in December is up for debate, no one expects the central bank to raise rates this week, especially given recent economic data, tightening financial conditions, the cautious tone of policymakers and global geopolitical uncertainty. Instead of FOMC decision, Treasury refunding announcement on Wednesday will draw the attention of the market as the U.S. struggles with a big debt problem and climbing yields that makes servicing that debt more expensive. October’s jobs numbers are due Friday, and big earnings lie ahead in the coming days. Busy week.
/ESZ23 (Dec 2023): YVAH 4183 YPOC 4165 YVAL 4139 GAP 4137
/ES Plan: Last session market closed bearish, but overnight looks slight bullish, moving within previous value, so these're the opening and initial balance options for today:
