Outlook 10/31: Stock futures slid on Thursday morning as investors digested weaker-than-expected earnings reports from megacap technology names and awaited further results. In premarket action, Meta dropped 3% after missing expectations for user growth and warning that capital expenditures will significantly rise in 2025. To be sure, Meta managed to beat on both top- and bottom-lines in the third quarter. Meanwhile, Microsoft’s revenue guidance disappointed investors, dragging shares nearly 4% lower. Tech earnings continues on Thursday with results from tech giants Apple and Amazon. The latest personal consumption expenditures price index on Thursday showed inflation rose in-line with estimates and moved closer to the Federal Reserve’s 2% target. The PCE reading is the Fed’s preferred inflation gauge. Thursday’s PCE reading, along with Friday’s October payrolls report, will inform the Fed’s interest rate decision on Nov. 7.
ESZ24 (DEC2024): YVAH 5885 YPOC 5879 YVAL 5859 GAP 5845
/ES Plan: Yesterday market closed bearish, and overnight continues on that way, moving below previous value/range, so these're the opening and initial balance options for today:
