Morning Juice – US Session Prep

Good Morning Traders!
It is Tuesday, the 18th of June. Here is what to look out for today.

Sentiment
US equity futures pointed to further gains on Wall Street this morning, following a rally in large US tech companies that propelled the S&P 500 to another record high.

Contracts on the US benchmark remained steady, while those on the Nasdaq 100 edged higher.
Chipmakers Broadcom, Micron Technology, and Qualcomm were among the biggest gainers in premarket trading after the S&P 500 reached an all-time high for the 30th time this year on Monday, defying concerns about narrow breadth and higher-for-longer interest rates.

Docket
08:30 ET
US Retail Sales MoM
Median Forecast: 0.3% | Prior: 0% | Range: 0.5% / -0.1%
Core Retail Sales MoM
Median Forecast: 0.2% | Prior: 0.2% | Range: 0.6% / -0.1%

09:15 ET
US Industrial Production MoM
Median Forecast: 0.3% | Prior: 0% | Range: 0.7% / -0.1%
US Capacity Utilization
Median Forecast: 78.6% | Prior: 78.4% | Range: 78.9% / 78.4%

10:00 ET
US Business Inventories MoM
Median Forecast: 0.3% | Prior: -0.1% | Range: 0.4% / 0.2%

Speakers
09:30 ET
ECB’s de Guindos at a joint conference of the European Commission and the European Central Bank on European Financial Integration in Frankfurt, Germany

10:00 ET
Fed’s Barkin speaks on the US economy and Fed in an MNI webcast. Text is not expected but a Q&A is.

11:40 ET
Fed’s Collins gives keynote remarks at the Lawrence Partnership Annual Meeting & 10th Year Anniversary. Text is expected but no Q&A.

12:00 ET
ECB’s Villeroy speaks at awards ceremony for prizes in monetary economics and finance.

13:00 ET
Fed’s Kugler speaks at a virtual event about the economic outlook and monetary policy at an event hosted by the Peterson Institute of International Economics. Both text and Q&A are expected.
Fed’s Logan speaks in a moderated Q&A at the Headliners Club in Austin. Text is not expected but a Q&A is.

13:20 ET
Fed’s Musalem will give speech on the US economy and monetary policy at a CFA Society St. Louis Luncheon. It will be followed by a moderated Q&A.

14:00 ET
Fed’s Goolsbee speaks in a panel discussion at the 2024 Marshall Forum.