Morning Juice – US Session Prep

Morning, Traders!
It is Friday the 20th of December, here are some things to look out for today.

Sentiment
US stocks were set to deepen losses as traders grappled with an increasingly softening outlook for interest-rate cuts and the threat of an American government shutdown.

The S&P 500 was heading for its biggest weekly drop since at least September as futures tied to the benchmark dipped 0.9%.
Nasdaq 100 contracts fell, with technology stalwarts such as Tesla and NVIDIA giving way in early trading.

Stock market volatility has spiked in recent days as a hawkish pivot by the Federal Reserve made traders question whether this year’s tech-fueled rally could extend further in a higher rates environment, despite a resilient US economy.

Oil declined for a second day to extend a weekly fall, as a strengthening US dollar pressured prices. Gold advanced.

Speakers
08:30 ET
Fed’s Williams Speaks on CNBC

10:00 ET
Fed’s Goolsbee Speaks on CNBC

Docket
08:30 ET
US PCE for November
YoY – Median Forecast: 2.5% | Prior: 2.3% | Range: 2.6% / 2.4%
MoM – Median Forecast: 0.2% | Prior: 0.2% | Range: 0.3% / 0.1%
Core YoY – Median Forecast: 2.9% | Prior: 2.8% | Range: 3% / 2.8%
Core YoY – Median Forecast: 0.2% | Prior: 0.3% | Range: 0.3% / 0%

US Consumer Spending for November
Median Forecast: 0.5% | Prior: 0.4% | Range: 0.6% / 0.1%

10:00 ET
University of Michigan Survey December Prelim
Sentiment – Median Forecast: 74.2 | Prior: 74 | Range: 76.5 / 72
1-Year Inflation – Median Forecast: 2.9% | Prior: 2.9% | Range: 2.9% / 2.8%
5-Year Inflation – Median Forecast: 3.1% | Prior: 3.1% | (no range)

Good luck, have a good weekend!