Outlook 10/09: U.S. stock futures declined Monday as the deadly Israel-Hamas conflict pressured an already fragile market dealing with inflation and surging interest rates. The rising geopolitical tensions caused by the war could have ramifications for the energy market, with some experts forecasting a “knee jerk surge” in oil. The rising tension could also serve to stoke further volatility in market that has kept traders worried with persistent inflation and higher interest rates. WTI crude oil futures were up by 4.1% on Monday, trading above $85 per ounce. With the bond market closed on Monday for Columbus Day, Wall Street will have to wait until Tuesday for an update on interest rates.
/ESZ23 (Dec 2023): YVAH 4359 YPOC 4344 YVAL 4275 GAP 4345.75
/ES Plan: Last session market closed bullish, but overnight, after Israel-Hamas conflict, looks more bearish, moving within previous value, so these're the opening and initial balance options for today:
