Outlook 10/02: Stock futures tick lower as traders braced for more losses to start October amid escalating tensions in the Middle East. The major averages are coming off a losing session as rising tensions in the Middle East dented risk appetite and investor enthusiasm for the new trading period. The major worry now is should this conflict spiral into a larger scale war in the entire region, which of course could be a major October surprise. ADP data released Wednesday showed better-than-expected private payroll growth in September. That comes ahead of Friday’s closely followed nonfarm payroll report, which could play a major role in the market’s direction and the Federal Reserve’s next rate move as its cutting cycle begins.
ESZ24 (DEC2024): YVAH 5773 YPOC 5760 YVAL 5741 GAP 5761
/ES Plan: Yesterday market closed bearish (PBT 5700), but overnight looks balanced, moving within previous value, so these're the opening and initial balance options for today:
