Morning Juice – US Session Prep

Morning, Traders!
It is Tuesday the 17th 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 slightly, 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 as well.

Monday’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
US Retail Sales for November
MoM – Median Forecast: 0.5% | Prior: 0.4% | Range: 1% / -0.1%
Core MoM – Median Forecast: 0.4% | Prior: 0.1% | Range: 0.8% / -0.1%

Canadian CPI for November
YoY – Median Forecast: 2% | Prior: 2% | Range: 2.2% / 1.6%
MoM – Median Forecast: 0.1% | Prior: 0.4% | Range: 0.5% / -0.3%

09:15 ET
US Industrial Production for November
Median Forecast: 0.3% | Prior: -0.3% | Range: 0.9% / -0.1%

13:00 ET
US sells $13 bln 20-Year Bonds

Good luck!