Outlook 10/31: U.S. stock futures are little changed Tuesday, with traders set to close out a dismal month that saw Treasury yields surge to multiyear highs. The employment cost index, which the Federal Reserve watches closely as an inflation barometer, increased 1.1% for the July-through-September period, 0.1 percentage point more than estimate. Investors are keeping a close eye on the Fed’s next decision on interest rates this Wednesday. Fed funds futures pricing suggests a roughly 98% probability that the central bank will keep rates at current levels. Investors are also hoping that October’s payrolls report, which will be released Friday, will indicate some slowdown in the labor market.
/ESZ23 (Dec 2023): YVAH 4185 YPOC 4164 YVAL 4155 GAP 4186.50
/ES Plan: Yesterday market closed bullish, and overnight continues on that way (PBT 4225), moving above previous value, so these're the opening and initial balance options for today:
