Outlook 05/31: U.S. stock futures took a leg up following the latest inflation data released Friday morning. The core personal consumption expenditures price index increased 0.2% in April, in line with the consensus forecast of economists. Core PCE rose 2.8% on an annualized basis, slightly above the 2.7% prediction. Friday’s action comes near the end of what’s shaping up to be a winning May, with each of the major benchmarks set to register a sixth positive month in seven. The SP500 is higher by around 4%. But May’s ascent took a breather during this holiday-shortened trading week. The SP500 and Nasdaq were each on pace to snap five-week win streaks with slides of more than 1%.
/ESM24 (JUN 2024): YVAH 5272 YPOC 5264 YVAL 5257 GAP 5243
/ES Plan: Yesterday market closed bearish, but overnight, after PCE data, looks bullish, still moving below previous value, so these're the opening and initial balance options for today:
