Outlook 01/08: Stock futures are little changed as tech stocks struggle to recover from sell-off. The action comes after a sharp decline in Big Tech stocks and renewed fears over the path of rate cuts. Markets are currently pricing in a 95% chance of no reductions at the central bank’s meeting this month. Futures also appeared to take a leg down earlier after CNN reported that President-elect Donald Trump is considering declaring a national economic emergency to push through new tariffs. Initial filings for unemployment benefits fell last week, signaling that while the labor market may be softening, employers are not cutting staff. The main event awaits on Friday in the form of December’s nonfarm payrolls report. It is a four-day trading week, with the New York Stock Exchange closed on Thursday in honor of the late former President Jimmy Carter.
ESH25 (MAR2025): YVAH 6029 YPOC 5975 YVAL 5965 GAP 5958
/ES Plan: Yesterday market closed bearish (PBT 5006), but overnight looks balanced, moving below previous value, so these're the opening and initial balance options for current session:
