Outlook 10/17: Stock futures rise Thursday on the back of strong economic data, easing lingering fears of a potential recession, while getting a boost from semiconductor names. Chip stocks led the gains, reversing some of their recent losses after shares of Taiwan Semiconductor rose 8%. The company, a major supplier for Nvidia and other chip manufacturers, reported strong third-quarter results and raised its revenue forecast for the last three months of the year. September’s retail sales figures showed that consumer spending was still robust, with monthly spending increased by 0.4%, while consensus estimate called for 0.3%. Sales excluding autos shot up by 0.5%, much hotter than the 0.1% forecast. Jobless claims for the week ended Oct. 12 were also lower than expected.
ESZ24 (DEC2024): YVAH 5892 YPOC 5886 YVAL 5866 GAP 5886
/ES Plan: Yesterday market closed bullish (PBT 5918), andt overnight continues on that way, moving above previous value/range, so these're the opening and initial balance options for today:
