Outlook 05/16: U.S. stock futures print new record overnight Thursday after a lighter-than-expected inflation reading propelled the major averages to record high. The three major averages closed at records on Wednesday. That performance was helped by the April reading of the consumer price index, a broad measure of how much goods and services cost at the cash register, which increased 0.3% from the prior month. That was slightly below the estimate of 0.4%. Consumer prices still grew 3.4% from a year ago. The market is recognizing that the inflation dynamics look favorable.
/ESM24 (JUN 2024): YVAH 5337 YPOC 5324 YVAL 5298 GAP 5326.75
/ES Plan: Yesterday market closed bullish (PBT 5385), but overnight looks more balanced, moving within previous value/range, so these're the opening and initial balance options for today:
