Outlook 07/02: Stock futures fall Tuesday, putting the major averages on track to give back the gains seen in the previous session. Investors are deliberating whether the strong start to the year can continue in the back half of 2024. While megacap tech stocks continue to outperform, bearish market observers worry poor breadth could signal choppiness ahead. Federal Reserve Chair Jerome Powell speaks Tuesday at 9:30 a.m. ET before a policy panel at the European Central Bank Forum. The central bank leader will be part of a panel discussion and will not be issuing prepared remarks beforehand. The May job openings and labor turnover report is also due out Tuesday. Markets will end trading early Wednesday, and close Thursday, for the Fourth of July holiday. On Friday, investors will get insight into the labor market with the Jobs report.
/ESU24 (SEP 2024): YVAH 5538 YPOC 5530 YVAL 5521 GAP 5532
/ES Plan: Yesterday market closed bullish (PBT 5555), but overnight looks bearish (PBT 5490), moving a few ticks below previous value, so these're the opening and initial balance options for today:
