Morning Juice – US Session Prep

Morning, Traders!
It is Tuesday the 13th of August, here are some things to look out for today.

Sentiment
US equity futures struggled for direction as investors waited for US price data to provide guidance on the Federal Reserve’s policy path, while rising Middle East tensions weighed on risk appetite.

Following yesterday’s flat close on Wall Street, S&P 500 and Nasdaq 100 contracts pared early gains.
Brent crude oil remained near the $82 level reached on Monday, as the US views an Iranian attack on Israel as increasingly likely.

The recent rally in crude oil prices has also heightened interest in producer-price data, which will be released later today as an indicator of inflationary risks in the pipeline.
Following last week’s turmoil, markets are focussing on tomorrow’s US consumer price index as well, which may help determine whether the Fed has enough room to ensure a soft landing for the economy.

Docket
08:30 ET
US PPI for July
YoY – Median Forecast: 2.3% | Prior: 2.6% | Range: 2.4% / 2%
MoM – Median Forecast: 0.2% | Prior: 0.2% | Range: 0.4% / -0.1%
Core YoY – Median Forecast: 2.6% | Prior: 3% | Range: 2.8% / 2.5%
Core MoM – Median Forecast: 0.2% | Prior: 0.4% | Range: 0.3% / 0%

Speakers
13:15 ET
Fed’s Bostic speaks on the economic outlook in a moderated conversation at the Conference of African American Financial Professionals.
No text is expected, but there will be a Q&A.
No live stream is available
Event details here

Good luck!