Outlook 10/03: U.S. stock futures turn down on Tuesday as traders kept an eye on rising Treasury yields, which hit a 16-year high. The 10-year Treasury yield traded at 4.735%, climbing to its highest level since Aug. 15, 2007. The benchmark yield has surged in the past month, as traders assess the possibility of tighter Federal Reserve for longer. Investors have been fretting recently over the potential of higher interest Federal Reserve for longer, fearing that tighter monetary policy could tip the economy into a recession. This has pushed Treasury yields to levels not seen in more than a decade. On the economic data front, investors will be watching the Job Openings and Labor Turnover Survey for August, due Tuesday morning. Economists anticipate 8.8 million job openings.
/ESZ23 (Dec 2023): YVAH 4328 YPOC 4318 YVAL 4305 GAP 4326
/ES Plan: Yesterday market closed bearish (PBT 4281), and overnight continues on that way, moving below previous value/range, so these're the opening and initial balance options for today:
