Outlook 09/18: Stock futures rise slightly as market wait for the first Federal Reserve interest rate cut in four years. The Fed is expected to deliver its latest policy decision at 2 p.m. ET. The central bank is expected to lower rates by at least a quarter percentage point, but traders are divided over how big the reduction will be. Traders pricing in a 65% chance of a half-point cut and 35% odds of a quarter-point move. It’s unusual to have this much uncertainty into a Fed decision as the central bank typically tries to telegraph its next move to the markets. Traders had believed for most of the last month that the Fed would lower by a quarter point, but the idea of a super-sized cut began to gain traction in the past week. We’d have to go back over 15 years to find such an uncertain situation this close to the decision. A lot of money will be made and lost today.
ESZ24 (DEC2024): YVAH 5734 YPOC 5722 YVAL 5696 GAP 5702.75
/ES Plan: Yesterday market closed bimodal (LIS HVE 5710), but overnight looks slightly bullish, moving within previous value, so these're the opening and initial balance options for today:
