Morning Juice – US Session Prep

Good Morning traders.
It is Wednesday the 2nd of October. Here is what to look out for today.

Sentiment
US equity futures fell, signaling a second day of declines on Wall Street as flaring tensions in the Middle East hit sentiment. Traders await further clarity on Israel’s response to Iran’s missile attack, amid fears of a wider conflict in the Middle East. Markets also await monthly jobs data due later this week for clues over the Federal Reserve’s policy path. A gauge of the US dollar’s strength was little changed while Treasury yields edged higher as investors mulled geopolitical risks. The Japanese yen lagged all its Group-of-10 peers after dovish comments from officials, while Norway’s krone surged. Traders await US ADP employment data, which may act as a precursor for a jobs report due on Oct. 4.

Docket
08:15 ET
US ADP Employment Change
Median Forecast: 125K | Prior: 99K | Range: 150K / 80K

10:30 ET
Weekly EIA Crude Oil Inventories
Median Forecast: -1.465M | Prior: -4.471M | Range: 1M / -3M

Speakers
09:00 ET
Fed’s Hammeck gives welcome remarks at the Fed s 2024 Minorities in Banking Forum.

10:05 ET
Fed’s Musalem gives welcoming remarks at the Community Banking Research Conference. Text is expected.

11:00 ET
Fed’s Bowman gives keynote speech at the Community Banking Research Conference. Text is expected.

11:30 ET
Fed’s Barkin will speak on the economy in a speech named “Why Not Declare Victory?”. Text and Q&A expected.

12:45 ET
ECB’s Schnabel gives a lecture on escaping stagflation.