Outlook 07/28: Stock futures look mixed as semiconductor names fell once again, with traders weighing the latest deluge of corporate earnings. Nasdaq futures are down 0.7%. while SP500 futures little changed. The tension in the market reflects uncertainty ahead of a big week for stocks with earnings results from Amazon, Meta Platforms and Microsoft in the calendar. The chip trade hinges on continued spending from the hyperscalers. Apple also reports this week. A Federal Reserve rate decision is due Wednesday. Investors expect that the central bank will remain on hold, but will seek greater clarity on the path forward for monetary policy. Fed funds futures were last pricing in a quarter point hike in September.
ESU26 (Sep2026): YVAH 7467 YPOC 7450 YVAL 7419 GAP 7448
/ES Plan: Yesterday market closed bearish (PBT 7377), but overnight looks balanced, still moving within value/range, so these're the opening and initial balance options for current session:
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