Outlook 12/04: U.S. stock futures fall Monday after the SP500 closed at a new 2023 high on Friday, capping a five-week advance. The rebound in stocks since October came as investors increasingly bet that the Federal Reserve will start cutting interest rates next year. Investors maintained this belief last week even as Fed Chairman J.Powell’s tried to tamp down rate-cut expectations, saying it’s “premature” to anticipate easing in policy. Investors are awaiting the November jobs report, scheduled for release on Friday, for confirmation the Fed is done hiking rates.
/ESZ23 (Dec 2023): YVAH 4606 YPOC 4600 YVAL 4574 GAP 4602.75
/ES Plan: Last session market closed bimodal, but overnight looks bearish, moving below previous value, so these're the opening and initial balance options for today:
