Morning Juice – Europe Session Prep
Good Morning Traders
It is Thursday, the 25th July. Here is what to expect for today:
Sentiment
The People’s Bank of China suddenly decreased the rate on its one-year policy loans by the most since April 2020, following a surprise fall in a crucial short-term rate to bolster slowing economic growth.
Investors soured on the promise of artificial intelligence Wednesday, prompting a $1 trillion tumble in the Nasdaq 100 Index as questions arose about how long it will take for the significant investments in the technology to pay off.
Japan’s Nikkei 225 Stock Average headed for a technical correction as an AI-driven rise in technology companies reversed and concerns rose that the Bank of Japan is prepared to raise interest rates.
Oil slumped, reflecting a broader decline in commodities and equity markets, as a weaker forecast for China overcame decreasing US stocks.
Docket
04:00 ET
German IFO Expectations
Median Forecast 89.3 | Prior 89.0 | Range 91.0/87.5
German IFO Current Conditions
Median Forecast 88.5 | Prior 88.3 | Range 89.5/87.3
German IFO Business Climate
Median Forecast 89 | Prior 88.6 | Range 89.5/87.3
Earnings
06:30 ET
American Airlines Q2 2024 Earnings
Est. EPS $1.06| Est. Rev. $14.37B
Speakers
07:00 ET
ECB’s Nagel gives press conference at G-20 in Rio de Janeiro.
Good luck!
