Morning Juice – US Session Prep
Good Morning Traders.
It is Friday the 11th of October. Here is what to look out for today.
Sentiment
US stocks were poised for a second day of declines as enduring inflation cast doubts on the Federal Reserve’s easing cycle, and investors braced for a barrage of corporate earnings. Data on Thursday showed US inflation rose more than forecast in September. That hasn’t moved the dial much on easing bets, with swaps traders putting 80% odds on a quarter-point reduction in November after the Fed’s outsized interest rate cut last month. Among single stocks, Tesla Inc. fell in premarket trading as Elon Musk unveiled prototypes of the automaker’s long-awaited robotaxi Cybercab that analysts said were light on details.
Docket
08:30 ET
US PPI for August
YoY – Median Forecast: 1.6% | Prior: 1.7% | Range: 1.8% / 1.5%
MoM – Median Forecast: 0.1% | Prior: 0.2% | Range: 0.2% / -0.1%
Core YoY – Median Forecast: 2.6% | Prior: 2.4% | Range: 2.7% / 2.5%
Core MoM – Median Forecast: 0.2% | Prior: 0.3% | Range: 0.3% / 0.1%
Canadian Employment Change
Median Forecast: 27.5K | Prior: 22.1K | Range: 104K / 10K
Unemployment Rate
Median Forecast: 6.7% | Prior: 6.6% | Range: 6.8% / 6.6%
10:00 ET
University of Michigan
Sentiment – Median Forecast: 71 | Prior: 70.1 | Range: 73 / 67
1-Year Inflation – Median Forecast: 2.7% | Prior: 2.7% | Range: 2.8% / 2.6%
5-Year Inflation – Median Forecast: 3% | Prior: 3.1% | Range: 3.1% / 0.1%
Speakers
09:45 ET
Fed’s Goolsbee gives opening remarks at the Community Bankers Symposium.
10:45 ET
Fed’s Logan is on a panel discussion at the Federal Home Loan Bank of Dallas Women in Financial Services Conference.
