Outlook 06/11: U.S. stock futures slip as investors gear up for start of Fed policy meeting. Traders prepare for the two-day Fed policy meeting commencing Tuesday. The meeting will conclude on Wednesday with an interest rate policy decision and a subsequent press conference featuring Federal Reserve Chair Jerome Powell. While investors are anxiously awaiting the policy announcement, they are largely pricing in that the borrowing rate remains unchanged. Fed funds futures were indicating virtually no chance of a cut at this week’s meeting. We’ve got two big events coming in the middle of this week: the CPI print on Wednesday morning and the Fed meeting on Wednesday afternoon.
/ESM24 (JUN 2024): YVAH 5374 YPOC 5366 YVAL 5352 GAP 5366.25
/ES Plan: Yesterday market closed bullish (PBT 5393), but overnight looks bearish, moving within previous value, so these're the opening and initial balance options for today:
