Morning Juice – US Session Prep

Good Morning Traders!
Happy Friday, It is the 10th of January. Here is what to look out for today.

Sentiment
Stocks and bond markets fell on Friday as traders remained cautious ahead of US jobs data, which will provide fresh insight into the strength of the economy and the outlook for interest rates.

S&P 500 and Nasdaq 100 futures both declined 0.2%.
Major US insurers fell in premarket trade as wildfire-related damage estimates in Los Angeles rose.
A Chinese benchmark has surged into a bear market.
Europe’s Stoxx 600 saw minimal movement.

US Treasuries remained basically flat.
The week’s broad decline in European government bonds continued, with the yield on 10-year gilts holding near its highest since 2008.
A chaotic week for UK assets has come to a close, with the Pound sliding 0.1% to $1.2291, its lowest level since late 2023.
UK 10 and 30-year bond yields rose by more than 20 bps in the last five sessions, the most in a year.

The Dollar index showed minimal movement.
Oil hit a three-month high as another drop in US crude stockpiles, fuelled by freezing winter weather, and potential sanctions on Russian and Iranian oil, signalled a tighter global market.

Docket
08:30 ET
US Employment Situation for December
Nonfarm Payrolls – Median Forecast: 165K | Prior: 227K | Range: 268K / 100K
Unemployment Rate – Median Forecast: 4.2% | Prior: 4.2% | Range: 4.4% / 4.1%
Average Earnings YoY – Median Forecast: 4% | Prior: 4% | Range: 4.2% / 3.8%
Average Workweek Hours – Median Forecast: 34.3 | Prior: 34.3 | Range: 34.3 / 34.2

Canadian Employment Change
Median Forecast: 25K | Prior: 50.5K | Range: 40.6K / 10K
Canadian Unemployment Rate
Median Forecast: 6.9% | Prior: 6.8% | Range: 6.9% / 6.7%

10:00 ET
University of Michigan Survey January Prelim
Sentiment – Median Forecast: 74 | Prior: 74 | Range: 79 / 70.8
1-Year Inflation Expectations – Median Forecast: 2.8% | Prior: 2.8% | Range: 3% / 2.7%
5-Year Inflation Expectations – Median Forecast: 3% | Prior: 3% | Range: 3.1% / 3%

Speakers
10:04 ET
Fed’s Goolsbee speaks on CNBC

Good luck, and have a good weekend!