Outlook 06/13: U.S. stock futures add to gains after another encouraging inflation report. May’s producer price index fell 0.2% from the prior month. Economists expected an increase of 0.1%. That report comes a day after May’s consumer price index rose less than expected last month. Thursday’s data also follows a Federal Reserve policy decision. The Fed kept rates unchanged, but noted there has been progress made on the inflation front. That said, the central bank lowered its rate cut expectations for 2024 to one from its prior estimate of three. The Fed unsurprisingly left policy unchanged but continues to just about keep the door open to rate cuts this year.
/ESM24 (JUN 2024): YVAH 5447 YPOC 5442 YVAL 5426 GAP 5425.50
/ES Plan: Yesterday market closed bullish (PBT 5504), but overnight looks balanced, moving within previous value, so these're the opening and initial balance options for today:
