Outlook 05/28: U.S. stock futures are little changed on Tuesday morning as investors await inflation data due at the end of the shortened trading week for a better picture of the market’s outlook. Stocks are on track to end May’s trading month, which concludes with Friday’s closing bell, on a strong note. Softer inflation data earlier this month and better-than-expected quarterly earnings reports lifted sentiment, with the former suggesting Federal Reserve rate cuts could come earlier than investors had anticipated. Recently, however, stronger economic data and fresher concerns about a potential consumer spending pullback have dampened the interest rate outlook. Looking ahead to this week, investors are watching for consumer confidence data out Tuesday and the April personal income and expenditures report, which includes the PCE inflation reading, out Friday.
/ESM24 (JUN 2024): YVAH 5328 YPOC 5322 YVAL 5305 (Last Friday)
/ES Plan: Last session market closed bullish (PBT 5357), but overnight looks balanced, moving within previous value, so these're the opening and initial balance options for today:
