Outlook 08/15: Stock futures jump as strong retail sales soothe recession fears. Consumer spending increased more-than-expected in July, adding another layer of positive economic data to investors hoping to continue a recent market rally. U.S. Retail sales increased 1% in July, surpassing an estimate that forecast 0.3%. Excluding auto-related figures, sales ticked up 0.4%, which was also better than a 0.1% forecast.. Also separately, weekly jobless claims fell for the week. The data served as a boon to investors and a broader market trying to mount a comeback from an August rout tied to concerns about a slowing economy that arose following July’s disappointing jobs report on August 2nd. After a 2% gain this week, the SP500 is now less than 4% below its record.
ESU24 (SEP2024): YVAH 5475 YPOC 5470 YVAL 5453 GAP 5484.50
/ES Plan: Yesterday market closed bullish, and overnight, after Sales data, looks strong bullish, moving above previous value/range, so these're the opening and initial balance options for today:
