Outlook 01/18: U.S. stock futures rise slightly Thursday as the market tried to regain its footing after yet another losing session. Investors are concerned that a buoyant labor market coupled with robust consumer spending, reflected in Wednesday’s retail sales report for December, may mean fewer rate cuts from the Federal Reserve than many are expecting. Currently, markets are pricing in a roughly 56% chance of a quarter percentage point rate cut in March. The fact that the Fed is not talking about raising rates is a good thing, but the fact that the market’s pricing six rate cuts is a problem.
/ESH24 (MAR 2024): YVAH 4774 YPOC 4765 YVAL 4759 GAP 4768.75
/ES Plan: Yesterday market closed bearish, but overnight looks more bullish, moving above previous value, so these're the opening and initial balance options for today:
