Outlook 11/18: Stock futures are mixed Monday as market awaits major earnings reports this week and monitors the state of the postelection rally. Concerns about the path of interest rates continue to weigh on investors’ minds, particularly after Federal Reserve Chair Jerome Powell said on Thursday that the central bank is not “in a hurry” to cut rates given the economy’s strong growth and a solid labor market which drove last week’s sell-off. Most investors are now pricing in a year-end overnight lending rate in the range of 4.25% to 4.50%. Tesla, the electric vehicle maker jumped 6% after Bloomberg News reported that President-elect Donald Trump’s transition team is planning to make a national regulatory framework for self-driving vehicles a top priority for the U.S. Transportation Department. The next major catalyst for the market this week will be Nvidia earnings, set to be released on Wednesday.
ESZ24 (DEC2024): YVAH 5918 YPOC 5892 YVAL 5880 GAP 5900.25
/ES Plan: Last session market closed bearish (PBT 5810), but overnight looks more balanced, moving within previous value, so these're the opening and initial balance options for current session:
