Outlook 06/06: U.S. stock futures are little changed after SP500 notches record close. The European Central Bank cut rates for the first time since 2019 on Thursday, raising the pressure on the Federal Reserve to potentially lighten its policy that many see as too restrictive. The Fed next decides on rates next week and is likely to keep rates the same, though bets that they will cut in September are rising. Traders are looking ahead to Friday’s nonfarm payrolls report for May, with investors on the hunt for signs of a weakening labor market, which could support rate cuts from the Federal Reserve. Private payrolls data from ADP released Wednesday showed a slowdown in hiring.
/ESM24 (JUN 2024): YVAH 5368 YPOC 5358 YVAL 5323 GAP 5362.50
/ES Plan: Yesterday market closed bullish, and overnight continues on that way, moving within previous value, so these're the opening and initial balance options for today:
