Morning Juice – US Session Prep

Morning, Traders!
It is Wednesday the 8th of January, here are some things to look out for today.

Sentiment
Bonds extended their selloff, while US equities futures fell as traders evaluated fears over tariffs considered by President-elect Trump.

S&P 500 prices began to fall shortly after a CNN story that stated Trump is considering declaring a national economic emergency to push through his tariff proposals.
Stock indexes fell as bond yields and the Dollar climbed.

Meanwhile, market traders are prepared for more volatility in the coming weeks.

Credit supply is still continuing, with firms and banks throughout the world raising over $111 billion this year until Tuesday. Despite the volatility in government debt, corporate bond spreads remain close to their lowest levels since the financial crisis.

Docket
08:15 ET
US ADP Employment Change for December
Median Forecast: 139K | Prior: 146K | Range: 160K / 100K

08:30 ET
US Weekly Jobless Claims
Initial Claims – Median Forecast: 215K | Prior: 211K | Range: 235K / 200K
Continued Claims – Median Forecast: 1.86M | Prior: 1.844M | Range: 1.915M / 1.84M

10:30 ET
US Weekly EIA Crude Oil Inventories
Median Forecast: -2M | Prior: -1.178M | Range: 2.81M / -3.047M

14:00 ET
FOMC Meeting Minutes

Speakers
12:15 ET
ECB’s Villeroy Speaks

Good luck!