Outlook 08/08: Stock futures tick higher after new labor market data boosted investors’ confidence in the U.S. economy after a sharp market sell-off earlier in the week. The latest weekly jobless claims came in below forecasts, helping to allay some recent concerns on the strength of the labor market. First-time filings for jobless benefits came in at 233,000 last week, down 17,000 from the previous week and lower than 240,000 estimated. The move in futures comes after stocks were unable to hold an early rally on Wednesday, fueling concerns that the factors that caused Monday’s sell-off haven’t gone away. The recent jolt of volatility into the market could be a preview of the rest of the year. Economic concerns, geopolitical conflict and the looming November elections could keep investors on edge in the coming months.
ESU24 (SEP2024): YVAH 5358 YPOC 5342 YVAL 5258 GAP 5229
/ES Plan: Yesterday market closed bimodal bearish, but overnight looks bullish (PBT 5280), moving with previous value, so these're the opening and initial balance options for today:
