Outlook 12/27: U.S. stock futures are little changed as index nears new all-time high. Stocks are in the thick of the “Santa Claus rally,” a period comprised of the last five trading days of an ending year and first two of a new one. Market may be overly optimistic, especially if the Federal Reserve begins cutting interest rates later than traders anticipate. The market is pricing in a more than 70% probability of a decrease to interest rates at the central bank’s March meeting. Investors will watch on Wednesday for economic data on the manufacturing industry.
/ESH24 (MAR 2024): YVAH 4830 YPOC 4825 YVAL 4815 GAP 4826
/ES Plan: Yesterday market closed bullish (PBT 4850), but overnight looks balanced, moving within previous value, so these're the opening and initial balance options for today:
