PCE inflation

Outlook 04/26: U.S. stock futures rise Friday as Big Tech names Alphabet and Microsoft rallied on strong earnings and traders pored through fresh U.S. inflation data. Those gains extended following March’s core personal consumption expenditures reading. The gauge, excluding food and energy, rose 2.8% from a year ago and came in ahead of the 2.7% expected. Personal spending rose 0.8% and ahead of a 0.7% estimate. Shares of Alphabet jumped nearly 12% following better-than-expected first-quarter earnings. The company also authorized its first-ever dividend and a $70 billion buyback. Microsoft climbed 4% on strong fiscal third-quarter results.

/ESM24 (JUN 2024): YVAH 5075 YPOC 5038 YVAL 5025 GAP 5125.50

/ES Plan: Yesterday market closed bullish, and overnight, after PCE report, looks balanced, moving well above yesterday's value, so these're the opening and initial balance options for today:

A) If market moves above HVE 5125 with bullish internals, buy towards ONH 5140 HVE 5155 PBT 5168 and HVE 5196.

B) If market moves below HVE 5125 with bearish internals, sell towards ONL 5111 YVAH 5075 HVE 5060 and YVAL 5025.

Note: Market opens above value and if it begins to trade within value, VAR comes into play. It's Friday and traders who have made losses that week will likely take large risks to try and end the week with a profit. Try to be calm and focus on the market rather than your account balance.

Market Movers

10:00 Consumer Sentiment

1:00 PM Baker Hughes Rig Count 

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