Outlook 06/10: U.S. stock futures are slightly lower Monday after a winning week, as traders looked ahead to the Federal Reserve’s interest rate decision and May inflation data. Investors will parse through the Fed’s updated projections on the timing and frequency of rate cuts. Markets are now pricing in just one rate cut this year, coming in November. Implications for FOMC policy are mixed. On the dovish side of the ledger is that the rise in unemployment has become more meaningful. On the hawkish side is that the firm NFP and associated details suggest labor demand growth remains solid.
/ESM24 (JUN 2024): YVAH 5371 YPOC 5359 YVAL 5351 GAP 5352
/ES Plan: Last session market closed balanced, but overnight looks bearish, moving below previous value, so these're the opening and initial balance options for today:
