Outlook 11/21: U.S. stock futures slide as November rally pauses on some weak retail earnings. Lowe’s fell nearly 4% premarket after reducing its full-year sales outlook. Best Buy declined more than 5% following a reduced full-year outlook and revenue miss. The minutes from the Fed’s Oct. 31-Nov.1 meeting are slated for release at 2 p.m. ET. Traders are hoping to glean some insight into policymakers’ rate decision after the central bank left its benchmark rate at 5.25%-5.50%, and learn what it might take for them to change tack going forward. Fed funds futures pricing suggests near unanimity that the Federal Open Market Committee will hold steady at its upcoming December meeting. Traders will also turn to earnings from Nvidia and HP.
/ESZ23 (Dec 2023): YVAH 4559 YPOC 4545 YVAL 4522 GAP 4525.25
/ES Plan: Yesterday market closed balanced, but overnight looks slight bearish, moving within previous value, so these're the opening and initial balance options for today:
