Outlook 12/05: Stock futures are relatively unchanged on Thursday following a record day. Jobless claims benefits for the week ending Nov. 30 rose by 9,000 to 224,000, higher than the estimate for 215,000. On the other hand, the level of continuing claims, which run a week behind, edged lower by 25,000 to 1.871 million. Meanwhile, a Census Bureau report released Thursday also revealed that the U.S. trade imbalance was lower than expected in October. Investors are now awaiting November’s nonfarm payrolls data, due out on Friday morning. Federal Reserve Chair Jerome Powell said on Wednesday that the U.S. economy is strong enough for the Fed to move carefully on rate cuts. Fed funds futures trading suggests a 78% likelihood that the central bank will trim rates by a quarter point at its Dec. 17-18 meeting, but they imply a nearly 64% probability that they will hold steady in January.
ESZ24 (DEC2024): YVAH 6091 YPOC 6087 YVAL 6071 GAP 6096
/ES Plan: Yesterday market closed bullish (PBT 6110), but overnight looks 100% balanced, still moving above previous value, so these're the opening and initial balance options for current session:
