Outlook 10/09: Stock futures are neutral after major averages post winning session. Market is coming off a strong session driven by tech sector gains and easing in oil prices. Those moves seemed to reflect growing optimism the Federal Reserve can navigate a soft landing, especially after last week’s jobs report showed continued strength in the labor market. Even with an underlying uptrend, markets could face further choppiness in what’s historically the most volatile month of the year, especially ahead of the U.S. presidential election. On the economic front, investors are anticipating the latest meeting minutes from the Fed on Wednesday, due at 2 p.m. ET. The September consumer and producer price index readings are due out Thursday and Friday, respectively. Earnings season kicks off Friday with the big banks JPMorgan Chase and Wells Fargo.
ESZ24 (DEC2024): YVAH 5806 YPOC 5789 YVAL 5773 GAP 5800
/ES Plan: Yesterday market closed bullish (PBT 5850), and overnight continues on that way (PBT 5813), moving within previous value, so these're the opening and initial balance options for today:
