Outlook 07/10: Stock futures are little changed after SP500 notches another record close. Wednesday marks a light day for economic data, with a final wholesale inventories reading for May due ahead of the June consumer price index reading on Thursday. The June producer price index will follow on Friday. Many view the upcoming CPI print as a key test for the market and the outlook for rate cuts. Get ready for Day 2 of testimony from Fed Chair Jerome Powell. Fresh off an appearance before the Senate Banking Committee, the central bank leader will sit before the House Financial Services Committee, with many investors watching his every word on rates, the current environment, and clues about upcoming policy. There is a lot to digest ahead of the big show, which will take place at 10AM ET.
/ESU24 (SEP2024): YVAH 5640 YPOC 5634 YVAL 5631 GAP 5631.50
/ES Plan: Yesterday market closed balanced, but overnight looks slight bullish moving above previous value, so these're the opening and initial balance options for today:
