Outlook 07/30: Stock futures rise marginally on Tuesday as investors digested key corporate earnings and looked to the beginning of the Federal Reserve’s policy meeting. The Fed’s two-day policy meeting is set to begin Today where central bank Chief Jerome Powell could signal the timing and number of rate cuts expected in the next few months. The Fed previously projected only one rate cut for the remainder of 2024, and traders have priced in a 100% chance for a September rate reduction. Traders will be watching for job openings data for the month of June and Consumer confidence for July. Investors will also watch closely for numbers from Microsoft, Advanced Micro Devices and Starbucks after the closing bell.
ESU24 (SEP2024): YVAH 5518 YPOC 5508 YVAL 5501 GAP 5501.25
/ES Plan: Yesterday market closed balanced, but overnight session looks bullish (PBT 5545), moving within previous value, so these're the opening and initial balance options for today:
