Outlook 08/27: Stock futures are lower Tuesday after a slide in technology names pressured the SP500 and Nasdaq. Markets are trying to find stable footing after a brutal start to the month. Investors have grown more optimistic, however, after Federal Reserve Chair Jerome Powell signaled on Friday that the central bank’s next move will be to cut benchmark interest rates. Powell did not specify when, or by how much, interest rates would be reduced. Traders are unanimously forecasting a rate cut at the central bank’s Sept.17-18 policy meeting of at least 25 basis points.
ESU24 (SEP2024): YVAH 5649 YPOC 5636 YVAL 5626 GAP 5631
/ES Plan: Yesterday market closed bearish (PBT 5603), and overnight continues on that way, moving below previous value, so these're the opening and initial balance options for today:
