Outlook 02/29: U.S. stock futures tick higher after a key inflation metric came in line with economists’ expectations. January’s personal consumption expenditures price index, excluding food and energy costs, increased 0.4% for the month and 2.8% from a year ago, as expected. PCE is the Federal Reserve’s preferred inflation gauge. Other key economic figures are due out, including Chicago purchasing managers index data for February and the pending home sales index for January. New York Fed President and CEO John Williams is also slated to moderate a discussion in the evening.
/ESH24 (MAR 2024): YVAH 5082 YPOC 5077 YVAL 5071 GAP 5071.50
/ES Plan: Yesterday market closed bearish, but overnight, after PCE, looks bullish, moving above value/range, so these're the opening and initial balance options for today:
