Outlook 04/30: U.S. stock futures trade into the red Tuesday after some higher-than-expected wage data raised fresh concerns about inflation ahead of the Federal Reserve’s rate decision on Wednesday. McDonald’s shares fell after disappointing earnings. There’s plenty of economic news on the docket this week, with Fed policymakers convening for their two-day policy meeting on Tuesday. The central bank is broadly anticipated to keep interest rates steady, but traders worry Fed Chair Jerome Powell’s post-meeting comments will lean more hawkish after the recent spate of hotter inflation reports. The busiest week of corporate earnings is set to continue with Amazon and Apple reporting their quarterly results Tuesday and Thursday, respectively. The April jobs report is also expected at the end of this week, preceded Wednesday by releases on job openings and private sector employment growth.
/ESM24 (JUN 2024): YVAH 5149 YPOC 5143 YVAL 5138 GAP 5147.75
/ES Plan: Yesterday market closed bullish (PBT 5166), but overnight looks bearish, moving below previous value, so these're the opening and initial balance options for today:
