Outlook 12/15: U.S. stock futures are little changed Friday as index heads for 7th positive week in a row. The S&P 500 could soon join the Dow with its own all-time high. The broad market index is less than 1.6% away from a record close set in January 2022. The Nasdaq is roughly 8% away from its highest-ever close, and about 9% from its all-time intraday high. Stocks rallied this week after the Federal Reserve on Wednesday admitted that its efforts to tamp down inflation are taking hold, and indicated three interest rate cuts are coming in 2024, buoying investor sentiment. The November retail sales data that came in stronger than expected on Thursday, following this week’s cooler inflation readings, added to hopes the Federal Reserve could navigate a soft landing.
/ESH24 (MAR 2024): YVAH 4781 YPOC 4774 YVAL 4765 GAP 4770
/ES Plan: Yesterday market closed balanced, and overnight continues on that way, moving within previous value, so these're the opening and initial balance options for today:
