Morning Juice – US Session Prep
Morning, Traders!
It is Friday the 10th of May, here are some things to look out for today.
Sentiment
Stocks rose in response to positive profit reports and US statistics that bolstered the case for interest rate reductions, and traders await the latest round of Fed speakers throughout the day.
The case for rate cuts was strengthened by higher-than-expected applications for US unemployment benefits on Thursday, which gave the market a further boost.
The rise that had been driven by tech giants is being broadened by the so-called value and cyclical sectors, as traders await a significant US inflation print due next week.
Docket
08:30 ET
Canadian Employment Data for April
Employment Change – Median Forecast: 20K | Prior: -2.2K | Range: 39.9K / 10K
Unemployment Rate – Median Forecast: 6.2% | Prior: 6.1% | Range: 6.2% / 6.1%
10:00 ET
University of Michigan Survey May Prelim
Sentiment – Median Forecast: 76.2 | Prior: 77.2 | Range: 79 / 73.5
1-Year Inflation Expectations – Median Forecast: 3.2% | Prior: 3.2% | Range: 3.4% / 3.1%
5-Year Inflation Expectations – Median Forecast: 3% | Prior: 3% | Range: 3.1% / 3%
Speakers
09:00 ET
Fed’s Bowman speaks on financial stability risks at the Texas Bankers Association Annual Convention.
Text and Q&A are both expected.
No webcast is available.
Event details here.
10:00 ET
Fed’s Logan speaks in a moderated Q&A to the Louisiana Bankers Association Annual Conference in New Orleans.
No text is expected.
No webcast is available.
Fed’s Kashkari will participate in a Q&A session, moderated by the chair of Minnesota’s Technology Advisory Council. No text is expected.
No webcast is available.
12:45 ET
Fed’s Goolsbee speaks in a moderated Q&A at the Economic Club of Minnesota luncheon.
Fed’s Kashkari will introduce Goolsbee.
No text is expected
Watch here
13:30 ET
Fed’s Barr gives commencement speech for American University School of Public Affairs Graduation.
Text is expected, but no Q&A.
Video will be available here
Good luck, and happy Friday!
