Outlook 10/08: Stock futures rebound slightly following a losing day with rising oil prices and bond yields in focus. Those two factors eased a bit Tuesday morning, boosting sentiment. Stocks have been volatile in the new trading month as investors have grown increasingly fearful of escalating conflict in the Middle East. The SP500 is off by a little more than 1.1% in October following a 2% gain in September. The market rallied a bit to end last week after a blockbuster jobs report. But that enthusiasm faded this week as investors reasoned that now the Federal Reserve may not be as aggressive with future rate cuts with the labor market still strong. Investors will watch Tuesday for economic data on small businesses and the trade deficit. They’ll also monitor speaking engagements scheduled throughout the day for central bank leaders including Boston Federal Reserve President Susan Collins and Atlanta Fed President Raphael Bostic.
ESZ24 (DEC2024): YVAH 5789 YPOC 5778 YVAL 5751 GAP 5748.50
/ES Plan: Last session market closed bearish, but overnight looks bimodal bullish (LIS 5764), moving within previous value, so these're the opening and initial balance options for today:
