Outlook 10/10: U.S. stock futures are slightly higher Tuesday, boosted by a drop in Treasury yields as Wall Street assessed the geopolitical risks of a protracted conflict from the Israel-Hamas war. The benchmark 10-year Treasury yield was down about 9 basis points at 4.694%, as investors turned to the traditional safe haven amid the conflict. These movements reflect the bond market’s first reaction to the Israel-Hamas conflict as it was closed on Columbus Day. The decline in yields gave stock futures a lift, as markets remain concerned over the recent quick rise in interest rates. Investors may also be looking past the geopolitical risks caused by the conflict, helped by Friday’s stronger-than-expected September payrolls report and optimism ahead of a slew of third-quarter earnings this week.
/ESZ23 (Dec 2023): YVAH 4376 YPOC 4369 YVAL 4327 GAP 4370.50
/ES Plan: Yesterday market closed bullish, but overnight looks more balanced, moving within previous value, so these're the opening and initial balance options for today:
