Morning Juice – US Session Prep
Morning, Traders!
It is Thursday the 30th of May, here are some things to look out for today.
Sentiment
US stocks were poised to fall further this morning as Treasury yields approached their highest level this year, raising concerns about restrictive monetary policy.
Global equities are poised for their worst week since mid-April, as US rate-cut expectations fade and inflation remains stubborn. Another tepid US auction result on Wednesday raised concerns that funding the US deficit would drive up yields at a time when the Fed is in no hurry to ease policy.
The remaining data this week could prove crucial as investors refine their monetary policy outlook.
The US releases gross domestic product numbers this morning, which are expected to be lower than the initial print, and Fed officials including New York Fed President Williams and Atlanta Fed President Bostic are scheduled to speak.
Inflation reports from the United States and Europe are expected on Friday.
Docket
08:30 ET
US GDP QoQ 2nd Estimate for Q1
Median Forecast: 1.3% | Prior: 1.6% | Range: 1.6% / 0.7%
US GDP Price Index
Median Forecast: 3.1% | Prior: 3.1% | Range: 3.3% – 3%
US Weekly Jobless Claims
Initial Claims – Median Forecast: 217K | Prior: 215K | Range: 225K / 212K
Continued Claims – Median Forecast: 1.796M | Piro: 1.794M | Range: 1.81M / 1.75M
11:00 ET
US Weekly EIA Crude Oil Inventories
Median Forecast: -1.8M | Prior: 1.825M | Range: 1.5M / -3.084M
Speakers
12:05 ET
Fed’s Williams speaks at the Economic Club of New York.
Text and Q&A are expected.
Event Details Here
14:30 ET
ECB’s Mackhlouf speaks at the Irish Association of Investment Managers Annual Dinner
Good luck!
