Outlook 08/26: Stock futures are little changed Monday as investors look to push equities back to record-high levels now that the Federal Reserve indicated that rate cuts are forthcoming. Stocks are coming off of a strong week that was highlighted by comments from Fed Chair Jerome Powell that interest rates cuts are on the horizon. Markets are anxiously waiting for a rate cut, especially in light of some worrying economic data that sparked a sell-off at the beginning of August and worried investors that elevated borrowing costs could damage the U.S. economy. But equities have since rebounded and are now hovering near all-time highs. The benchmark SP 500′s close on Friday put the broad market index less than 1% away from its record high set in mid July.
ESU24 (SEP2024): YVAH 5656 YPOC 5640 YVAL 5625 GAP 5650.50
/ES Plan: Last session market closed bullish (PBT 5683), and overnight continues on the bullish side, moving above previous value, so these're the opening and initial balance options for today:
