Outlook 04/20: U.S. stock futures are wobbling once again, all down ahead of a big day of earnings from several blue-chip companies. The reports and the outlooks will determine whether recent stock valuations are justified and could provide a forecast of what things will look like for the rest of the year. Johnson & Johnson (JNJ) is up this morning, and it will likely provide more clarity into its paused vaccine rollout, while defense spending will be analyzed following results from Lockheed Martin (LMT). Shares of Procter & Gamble (PG) and Netflix (NFLX) have soared over the past year due to the necessity of home care/cleaning products, as well as stay-at-home entertainment, but we'll see whether those trends continue as the companies publish their results.
/ESM21: YVAH 4160 YPOC 4151 YVAL 4146 GAP 4158.25
/ES Plan: Yesterday market closed bearish (PBT 4128), and overnight continues on that way, moving below yesterday's value, so these are the initial balance options for today:
