Outlook 02/13: U.S. stock futures slid sharply after hotter-than-expected inflation data for January spiked Treasury yields and raised doubts that the Federal Reserve would be able to cut rates several times this year, a key part of the bull case for the equity market. The consumer price index rose 0.3% in January from December. CPI was up 3.1% on an annual basis. Economists expected CPI to have increased by 0.2% month over month in January and 2.9% from a year earlier. Fed Swaps assign lower odds to May and June rate cuts. Traders of short-term US interest-rate futures bet the Fed will not cut rates until June after strong inflation data.
/ESH24 (MAR 2024): YVAH 5052 YPOC 5044 YVAL 5032 GAP 5034
/ES Plan: Last session market closed bearish, and overnight continues on that way, moving below value/range, so these're the opening and initial balance options for today:
