Outlook 05/24: U.S. stock futures rise as market looks to recover from worst session since March 2023. Markets tend to take breather heading into a long holiday weekend. The Fed minutes provided the catalyst and not even Nvidia could refocus markets on the positives. Indeed, at their latest meeting, central bank policymakers had expressed worries over the lack of progress in tamping down inflation. After some strong economic and labor data this week, Goldman pushed its forecast for the Fed’s first rate cut back to September from July. "Inflation is likely to be much improved by September, but hardly perfect, and still at a year-on-year rate that makes cutting a less than obvious decision".
/ESM24 (JUN 2024): YVAH 5333 YPOC 5283 YVAL 5273 GAP 5286.25
/ES Plan: Yesterday market closed bimodal bearish (LIS 5306), but overnight bounced back, still moving within previous value, so these're the opening and initial balance options for today:
