Outlook 02/07: U.S. stock futures rise Wednesday as investors parsed through another slate of quarterly results halfway through the corporate earnings season. A strong earnings season has been a source of strength on this rally. Much of the earnings upside’s been led by mega cap technology and artificial intelligence-focused, a phenomenon that’s also contributed to narrow market breadth. Stocks have pulled back from their record highs as doubts grow about how soon the Federal Reserve will start to cut interest rates. After the central bank held rates steady last week, Chair Jerome Powell suggested investors may have to wait longer than expected for policy to ease and other Fed policymakers have started to back him up this week. Earnings will help to drive stocks for the rest of the week, headlined by Walt Disney on Wednesday after the bell.
/ESH24 (MAR 2024): YVAH 4970 YPOC 4964 YVAL 4959 GAP 4969
/ES Plan: Yesterday market closed balanced, but overnight looks more bullish, moving above previous value/range, so these're the opening and initial balance options for today:
