Outlook 11/04: Stock futures are modestly higher on Monday as investors geared up for the highly-anticipated U.S. presidential election. Nvidia shares were up 2% in the premarket after announcement late Friday that the chipmaker would replace rival Intel in the 30-stock Dow. The change, which will take effect at the end of the week, comes as Nvidia continues to rip higher while Intel languishes in the artificial intelligence race. Tuesday’s election results could play a pivotal role in where stocks finish off the year. However, much of market aftershocks may hinge more heavily on which party takes control of Congress. If control of the U.S. House of Representatives and Senate is divided, it would likely mean a maintaining of the status quo. Some on market view the election as a key obstacle markets need to overcome to rally into year-end. Along with the election, investors are bracing for the latest rate decision from the Federal Reserve. Traders are pricing in a 96% chance of a rate cut at the conclusion of the central bank’s policy meeting.
ESZ24 (DEC2024): YVAH 5785 YPOC 5764 YVAL 5753 GAP 5763
/ES Plan: Last session market closed balanced, and overnight continues on that way, moving within previous value, so these're the opening and initial balance options for today:
