Morning Juice – US Session Prep

Morning, Traders!
Hope you had a good weekend.
It is Monday the 16th of December, here are some things to look out for today.

Sentiment
As traders braced themselves for a series of interest-rate announcements by major central banks that are coming later this week, US equities futures shrugged off negative results in other important markets. Bitcoin reached a new high.

Nasdaq 100 contracts increased, indicating more gains after the index finished at a record high on Friday.
MicroStrategy rose more than 6% in premarket trade, boosted by its impending inclusion in the tech-heavy index following the software maker’s transition into a leveraged gamble on Bitcoin.
S&P 500 futures rose.

This morning’s US stock performance contrasts with losses in Asia and Europe, as weaker-than-expected retail data in China dampened the mood.
A downturn in the eurozone’s private sector also weighed on European markets.

An expected quarter-point rate cut from the Federal Reserve on Wednesday could provide additional support and extend US stock outperformance.
The S&P 500 is up 27% so far in 2024, with strategists anticipating the surge to continue in expectation of President-elect Trump’s favourable economic policies and high earnings.

Docket
08:30 ET
NY Fed Manufacturing for December
Median Forecast: 10 | Prior: 31.2 | Range: 16.6 / -3

09:45 ET
US S&P PMIs December Prelim
Manufacturing – Median Forecast: 49.5 | Prior: 49.7 | Range: 50.1 / 49
Services – Median Forecast: 55.8 | Prior: 56.1 | Range: 56.5 / 55.5
Composite – Median Forecast: 55.1 | Prior: 54.69 | Range: 55.2 / 54.7

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

Speakers
11:30 ET
ECB’s Schnabel gives a keynote speech at the CEPR Paris Symposium organized by the Centre for Economic Policy Research (CEPR), Banque de France, and Sciences Po.

15:30 ET
BoC’s Gov. Macklem speaks in Vancouver.

Good luck!