Outlook 05/21: U.S. stock futures are little changed after Nasdaq Composite hits all-time high. Monday’s action follows a notable week on Wall Street amid renewed hopes about the state of inflation and monetary policy. Investors are monitor speeches from several Federal Reserve speakers including Governor Christopher Waller, Richmond Fed President Tom Barkin and Atlanta Fed President Raphael Bostic. Fed Governor Waller said he does not think further interest rate increases will be necessary. However, cuts are probably “several months” away, the central bank official said during a speech in Washington. Fed Bostic said he would not expect a rate cut before the fourth quarter.
/ESM24 (JUN 2024): YVAH 5348 YPOC 5343 YVAL 5333 GAP 5330
/ES Plan: Yesterday market closed bimodal bearish, and overnight continues on that way, moving below previous value, so these're the opening and initial balance options for today:
