Outlook 11/01: U.S. stock futures are little changed Wednesday as Wall Street braced for the Federal Reserve’s latest policy decision on interest rates after closing out a terrible month. Futures came off their lows after the Treasury detailed plans of the size of its future bond sales amid growing concerns of the U.S. government’s rising debt load. It appeared to be in-line with what traders were expecting. The Treasury will auction $112 billion in debt next week, largely matching what Wall Street was expecting. Private sector payrolls in October came in weaker than expected, the ADP said Wednesday. Companies added 113,000 workers last month, lower than the 130,000 expected. Those moves come as traders turn their eyes to Washington for the Fed’s latest policy announcement. Central bankers are largely expected to maintain rates steady, with fed funds futures pricing suggests a more than 99% probability that rates will remain at current levels.
/ESZ23 (Dec 2023): YVAH 4205 YPOC 4190 YVAL 4172 GAP 4205.75
/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:
