Morning Juice – US Session Prep
Good Morning Traders!
It is Monday, the 3rd of June. Here is what to look out for today.
Sentiment
US equities were positioned for modest gains Monday, with tech stocks outperforming amid renewed optimism about monetary easing. Nvidia and Advanced Micro Devices gained in premarket trading after unveiling plans for new artificial intelligence chips. GameStop was quoted 69% higher after the Reddit account that drove the meme-stock mania of 2021 posted what appeared to be a $116 million position in the games retailer. US stocks have struggled for direction as investors weigh optimism about corporate earnings and AI against uncertainty about when interest-rate cuts will start. But Friday’s core personal consumption expenditures, the Federal Reserve’s preferred measure for inflation, showed the smallest increase this year, boosting hopes for a pivot.
Docket
09:45 ET
US S&P Manufacturing PMI Final for May
Median Forecast 50.9 | Prior 50.9 | Range 50.9 / 50.8
10:00 ET
US ISM Manufacturing PMI for May
Median Forecast 49.7 | Prior 49.2 | Range 50.1 / 49
11:30 ET
US Sells $70 Bln in 3-Month Bills at Auction
US Sells $70 Bln in 6-Month Bills at Auction
Good luck!
