Outlook 02/05: U.S. stock futures are slightly lower on Monday morning after U.S. Federal Reserve Chair Jerome Powell dashed investor hopes for interest rate cuts in the near term. “We want to see more evidence that inflation is moving sustainably down to 2%,” Powell said in an interview with “60 Minutes” that aired Sunday. “Our confidence is rising. We just want some more confidence before we take that very important step of beginning to cut interest rates.” Those comments echo remarks made by Powell last week, after the Fed’s most recent monetary policy meeting. After the Fed kept interest rates unchanged, Powell said that a rate cut in March was unlikely.
/ESH24 (MAR 2024): YVAH 4997 YPOC 4963 YVAL 4953 GAP 4978.50
/ES Plan: Last session market closed bullish (PBT 5020), but overnight, looks more bearish, still moving within previous value, so these're the opening and initial balance options for today:
