Morning Juice – US Session Prep

Morning, Traders!
It is Monday the 2nd of December, here are some things to look out for today.

Sentiment
US stock-index futures drifted lower after the underlying S&P 500 Index closed at a record high on Friday, with traders preparing for a crucial employment report due later this week. The S&P gained 5.7% last month, its best monthly performance this year. In November, an MSCI gauge of US stocks beat the index provider’s all-country world index by the most since 2018, as Donald Trump’s return to the White House added fuel to the “America-first” trade that saw investors ditching international stocks and favoring US ones. Focus this week will be on November hiring data, which is due on Friday. Nonfarm payrolls probably advanced by 200,000, according to the median economist estimate, pointing to a labor market that’s healthy yet gradually cooling. Other economic gauges in focus this week include the ISM manufacturing and services indexes, as well as consumer sentiment.

Docket
09:45 ET
US S&P Manufacturing PMI November Final
Median Forecast: 49, Prior: 48.8, Range:  49.2 / 48.6

10:00 ET
US ISM Manufacturing PMI for November
Median Forecast: 47.6, Prior: 46.5, Range: 49.4 / 46.3

11:30 ET
US sells $81 bln 3-Month Bills
US sells $72 bln 6-Month Bills

Speakers
12:00 ET
BoE’s Foulger speaks at the Bloomberg UK policy series.

15:15 ET
Fed’s Waller gives a keynote speech at “Building a Better Fed Framework: The AIER Monetary Conference”, speaking on monetary policy and the economic outlook.
Both text and Q&A are expected.

16:30 ET
Fed’s Williams gives a keynote speech and a Q&A at the Queens Chamber of Commerce.
Both text and Q&A are expected.

Good luck!