Outlook 08/14: Stock futures tick higher as the annual inflation rate cracked 3%, encouraging investors who have been buying up shares following a pullback to start August. Consumer prices increased 0.2% month-over-month in July. On an annualized rate, inflation ticked up 2.9%. Economists expected a 0.2% increase from the prior month and a 3% gain year-over-year. Investors had been looking toward the CPI reading to get a full-plated picture of the state of the economy, and to further solidify the prospect of an interest rate cut at the central bank’s September meeting. If most of the data over the next five weeks points to a slowing economy, the Fed may cut more aggressively. Now primary question is whether the Fed will cut rates by 25 or 50 basis points.
ESU24 (SEP2024): YVAH 5462 YPOC 5449 YVAL 5413 GAP 5458
/ES Plan: Yesterday market closed bullish (PBT 5490), but overnight, after CPI data, looks balanced, still moving above previous value/range, so these're the opening and initial balance options for today:
