Outlook 03/06: U.S. stock futures bounce as tech shares rebound. In prepared remarks for appearances on Capitol Hill, Federal Reserve Chair Jerome Powell said the central bank could lower interest rates this year. But the Fed chief said the bank is not immediately ready to cut the cost of borrowing money. “We believe that our policy rate is likely at its peak for this tightening cycle,” said Powell, who is expected to speak before the House Financial Services Committee on Wednesday and the Senate Banking Committee on Thursday. “If the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year.”
/ESH24 (MAR 2024): YVAH 5101 YPOC 5091 YVAL 5063 GAP 5090.50
/ES Plan: Yesterday market closed bearish, but overnight bounced back, moving above value, so these're the opening and initial balance options for today:
