Outlook 10/17: U.S. stock futures slid on Tuesday as rising bond yields once again weighed on investors as the third-quarter earnings season gained steam. Consumers showed surprising strength in September, boosting retail sales well above expectations despite higher interest rates and worries over a weakening economy. Retail sales rose 0.7% on the month, well above the 0.3% estimated, according to the advance report the Commerce Department released Tuesday. The numbers are not adjusted for inflation, so they indicate that consumers more than kept up with price increases. The consumer price index, released last week, showed headline inflation up 0.4% in September.
/ESZ23 (Dec 2023): YVAH 4413 YPOC 4406 YVAL 4389 GAP 4405.25
/ES Plan: Yesterday's market closed bullish (PBT 4460), but overnight looks more bearish, moving below previous value, so these're the opening and initial balance options for today:
