Outlook 01/11: U.S. stock futures fall after CPI data shows inflation still holding a grip on the U.S. economy. The consumer price index increased 0.3% for the month, higher than the 0.2% estimate at a time when most economists and policymakers see inflationary pressures easing. On a 12-month basis, the CPI closed 2023 up 3.4%. Much of the increase came do to rising shelter costs. The category rose 0.5% for the month and accounted for more than half the core CPI increase. On annual basis, shelter costs increased 6.2%, or about two-thirds of the rise in inflation. Fed officials largely expect shelter costs to decline through the year as renewed leases reflect lower rents. Stock market futures were negative following the release while Treasury yields held slightly higher.
/ESH24 (MAR 2024): YVAH 4819 YPOC 4802 YVAL 4795 GAP 4819.50
/ES Plan: Yesterday market closed bullish, but overnight, after CPI data, looks slightly bearish, moving within previous value, so these're the opening and initial balance options for today:
