Outlook 11/15: Stock futures fall on Friday morning as the postelection rally wavered and the Federal Reserve signaled it was in no hurry to keep cutting interest rates. Markets took a leg down Thursday afternoon after Federal Reserve Chairman Jerome Powell said during an event in Dallas that the central bank wasn’t “in a hurry” to cut interest rates. That comes after the Fed cut the borrowing cost last week. Markets have trimmed expectations for another cut at the Fed’s December policy meeting and are now assigning a roughly 62% probability of a quarter percentage point reduction, down from 82.5% before Powell’s remarks on Thursday. Retail sales data on Friday showed an increase of 0.4% in October, slightly better than the 0.3% forecast from economists. That caps a busy week for economic data that was punctuated by releases of closely watched inflation gauges focused on consumers and producers.
ESZ24 (DEC2024): YVAH 6006 YPOC 5994 YVAL 5972 GAP 5965
/ES Plan: Yesterday market closed bearish, and overnight continues on that way (PBT 5918), moving below previous value/range, so these're the opening and initial balance options for current session:
