Morning Juice – US Session Prep

Morning, Traders!
It is Thursday the 24th of October, here are some things to look out for today.

Sentiment
Stocks were on track to post their first day of gains this week following a slew of positive earnings surprises in Europe and Tesla’s blowout results.

Futures on the Nasdaq 100 rose after Tesla reported its highest quarterly profit in over a year, sending the stock up 11% in premarket trading.
Europe’s Stoxx 600 index rose, boosted by strong results from Barclays, Unilever, and Hermes. US Treasuries rose for the first time this week, while the dollar fell.

The gains represent a resumption of the rally that propelled the S&P 500 to its 47th record high last week.
Traders are bracing for more results from US tech titans, a tumultuous presidential election, and the Federal Reserve’s next rate decision.

Docket
08:30 ET
US Weekly Jobless Claims
Initial Claims – Median Forecast: 241.5k | Prior: 241K | Range: 295K / 225K
Continued Claims – Median Forecast: 1.875M | Prior: 1.867M | Range: 1.91M / 1.86M

09:45 ET
US S&P PMIs October Prelim
Manufacturing PMI – Median Forecast: 47.5 | Prior: 47.3 | Range: 48.7 / 46.6
Services PMI – Median Forecast: 55 | Prior: 55.2 | Range: 55.5 / 53.5

10:00 ET
US New Home Sales for September
Median Forecast: 0.72M | Prior: 0.716M | Range: 0.762M / 0.69M

11:30 ET
US sells $95 bln 4-Week Bills

13:00 ET
US sells $24 bln 5-Year TIPS

Speakers
08:45 ET
Cleveland Fed President Hammack gives welcome remarks at an event hosted by the Center for Inflation Research at the Federal Reserve Bank of Cleveland and the European Central Bank.
No text or Q&A are expected.

09:00 ET
BoE’s Mann speaks on a panel in Washington.
ECB’s Kazaks participates in a panel titled “Global Macro Economy in a New World”.

11:00 ET
ECB’s McCaul Speaks

13:00 ET
ECB Chief Economist speaks at Conference in Cleveland titled: “Inflation: Drivers and Dynamics 2024”

Good luck!