Outlook 09/17: Stock futures climb higher Tuesday following better-than-expected retail sales data ahead of the start of the Federal Reserve’s September policy meeting. The latest retail sales data indicated solid consumer health ahead of the Federal Reserve’s policy meeting set to begin on Tuesday. Retail sales rose 0.1% in August versus economists’ estimates for a 0.2% decline. Market is on standby for the Fed’s long-anticipated rate cut, a move that could help boost earnings growth for companies following a backdrop of steep borrowing costs and high inflation. The Fed first embarked on its aggressive hiking campaign in March 2022. While investors expect a cut Wednesday, the market is divided on the size of the potential reduction. Traders are currently pricing in a 67% chance that the central bank eases rates by 50bps.
ESZ24 (DEC2024): YVAH 5700 YPOC 5696 YVAL 5682 GAP 5696
/ES Plan: Yesterday market closed bullish (PBT 5723), and overnight continues on that way, moving above previous value/range, so these're the opening and initial balance options for today:
