Outlook 07/09: Stock futures rise slightly on Tuesday as investors awaited key inflation data and earnings results due out later this week. The SP500 continued its advance as easing pricing pressures, and slowing growth, have investors increasingly optimistic the Federal Reserve will soon start to ease up on monetary policy. But others, who are concerned a correction is on the horizon, are urging investors to broaden their exposure. Federal Reserve Chair Jerome Powell will testify this week before Congress as part of his semiannual update on monetary policy. Powell will speak first to the Senate Banking Committee on Tuesday, followed by an appearance Wednesday before the House Financial Services Committee. Key inflation data is due out later this week with the June consumer price index on Thursday, as well as the producer price index on Friday.
/ESU24 (SEP2024): YVAH 5629 YPOC 5626 YVAL 5619 GAP 5627.75
/ES Plan: Yesterday market closed balanced, but overnight looks bullish (PBT 5650) moving above previous value, so these're the opening and initial balance options for today:
