Morning Juice – US Session Prep

Morning, Traders!
It is Thursday the 5th of September, here are some things to look out for today.

Sentiment
Following several days of volatility, US equities were poised to open steady as concerns about the strength of the country’s economy and the timing of any interest rate reduction by the Federal Reserve remain.

S&P 500 futures were little changed as premarket trading saw gains for Tesla and Nvidia.

After the Fed’s Beige Book survey revealed flat or declining economic activity and US job openings data on Wednesday fell short of expectations, swap traders increased their bets on the rate cuts’ pace.
This year, rates are expected to ease by at least 100 basis points, with one large decrease of 50 basis points included in the price.

Docket
08:15 ET
US ADP Employment Change for August
Median Forecast: 145K | Prior: 122K | Range: 170K / 105K

08:30 ET
US Weekly Jobless Claims
Initial Claims – Median Forecast: 230K | Prior: 231K | Range: 240K / 224K
Continued Claims – Median Forecast: 1.866M | Prior: 1.868M | Range: 1.875M / 1.86M

09:45 ET
US S&P Services PMI August Final
Median Forecast: 55 | Prfior: 55.2 | Range: 55.2 / 54.8

10:00 ET
US ISM Services PMI for August
Median Forecast: 51.2 | Prior: 51.4 | Range: 52.5 / 49.7

11:00 ET
US Weekly EIA Crude Oil Inventories
Median Forecast: -0.3M | Prior:-0.846M | Range: 1.71M / -2.461M

11:30 ET
US sells $80 bln 4-Week Bills

Good luck!