Outlook 07/25: Stock futures are little changed Thursday as investors weighed more earnings and fresh U.S. economic data, while the market looked to recover from the worst day for benchmark since 2022. Investors also assessed a second-quarter GDP report that showed the economy grow 2.8%, and much more than expected. Economists had anticipated growth of 2.1%. Investors have been viewing the recent declines as a sign of an overdue correction in an overbought market, which is now seeing a rotation away from megacap tech into small-cap stocks and more cyclical areas of the market. An air of skepticism in terms of what AI can deliver in terms of profitability and productivity, at least in the near term. And the market right now is a very much in a ‘show me’ state and wants to see this happen or see proof on a more accelerated timeframe.
ESU24 (SEP2024): YVAH 5517 YPOC 5482 YVAL 5461 GAP 5481
/ES Plan: Yesterday market closed bearish (PBT 5380), but overnight continues looks balanced, moving within previous value, so these're the opening and initial balance options for today:
