Outlook 10/19: U.S. stock futures are slight higher on Thursday morning as investors monitor a key mark for bonds yield and await commentary from Federal Reserve Chair Jerome Powell. The benchmark U.S. 10-year Treasury yield notched a high of 4.983% on Thursday, inching closer to the well-followed 5% level. The yield last crossed the 5% mark in 2007. Traders will monitor remarks at noon ET from Powell for insights into the path of interest rates. Even as inflation numbers have been showing signs of improvement, Treasury yields’ continued climb has raised questions on how the central bank may proceed on monetary policy. Weekly jobless claims came in under 200,000, another sign of continued strength in the economy despite higher interest rates.
/ESZ23 (Dec 2023): YVAH 4389 YPOC 4368 YVAL 4356 GAP 4349.50
/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:
