Outlook 01/26: U.S. stock futures gain after price index for December, an important gauge for the Federal Reserve, increased 0.2% on the month and was up 2.9% on a yearly basis, excluding food and energy. On a monthly basis, core inflation increased from 0.1% in November. However, the annual rate declined from 3.2%. Including volatile food and energy costs, headline inflation also rose 0.2% for the month and held steady at 2.6% annually. The release adds to evidence that inflation, while still elevated, is continuing to make progress lower, possibly giving the Fed a green light to start cutting interest rates later this year. The central bank targets 2% as a healthy annual inflation rate.
/ESH24 (MAR 2024): YVAH 4922 YPOC 4917 YVAL 4907 GAP 4922
/ES Plan: Yesterday market closed bullish (PBT 4940), and overnight, after GDP data, looks balanced, moving within previous value, so these're the opening and initial balance options for today:
