Outlook 12/11: U.S. stock futures little changed Monday as investors awaited this week’s final Federal Reserve meeting of 2023 for any signals on when central bankers will begin to cut interest rates. The Fed is expected to maintain the fed funds rate steady in the 5.25%-5.5% range. Chair Jerome Powell is also expected to reiterate his commitment to lowering inflation in his press conference on Wednesday. Already, the Fed Watch tool is indicating that markets are pricing in a 45% likelihood in March that the Fed will lower rates by 0.25 percentage points. Investors are also looking ahead to key inflation data, which could impact market movements and rate-cut decisions made by the Fed. The November consumer price index is due out on Tuesday, while the producer price index is set for release on Wednesday.
/ESH24 (MAR 2024): YVAH 4663 YPOC 4660 YVAL 4641 GAP 4658.75
/ES Plan: Last session market closed bullish, but overnight looks balanced, moving within previous value, so these're the opening and initial balance options for today:
