Morning Juice – US Session Prep

Morning, Traders!
It is Thursday the 6th of February, here are some things to look out for today.

Sentiment
US stock index futures dipped as poor earnings from heavyweights fuelled investor concerns about US market values.

S&P 500 futures were barely changed, erasing an early advance fuelled by Treasury Secretary Bessent’s statement that the Trump administration is focussing on lowering the 10-year Treasury yield.
Contracts on the Nasdaq 100 fell.

UK stocks rose as the Pound sank after the BoE cut interest rates, as expected, and more BoE officials than expected voted for a larger 50 bps move at this meeting, which caused traders to increase bets on further BoE easing.

US jobless claims data will be on traders’ radar today, as the payrolls report is coming tomorrow.
The 10-year Treasury yield rose roughly 2 bps on Thursday, but it remains near a one-month low.

Docket
08:30 ET
US Weekly Jobless Claims
Initial Claims – Median Forecast: 213k | Prior: 207k | Range: 230k / 205k
Continued Claims – Median Forecast: 1.87M | Prior: 1.858M | Range: 1.9M / 1.81M

US Productivity Q4 Prelim
Median Forecast: 1.2% | Prior: 2.2% | Range: 2.2% / 0%

US Unit Labor Costs Q4 Prelim
Median Forecast: 3.4% | Prior: 0.8% | Range: 4.2% / 1.3%

11:30 ET
US sells $95 bln 4-Week Bills

Speakers
10:00 ET
ECB’s Vujcic speaks in London

11:15 ET
ECB’s Nagel speaks on “Central bank digital currencies – opportunities and implementation considerations.”

14:30 ET
Fed’s Waller speaks in a fireside chat hosted by the Atlantic Council covering the global financial ecosystem, focusing on the rise of digital assets, including dollar-backed stablecoins, and the development of new domestic and cross-border payment systems.
No text is expected, but there will be a Q&A.

15:15 ET
ECB’s Escrivá gives speech on “Challenges for central banks in the digital era” at the BIS’s Chapultepec conference in Mexico City.

16:05 ET
BoE’s Governor Bailey speaks on Bloomberg TV. The event is private, and no text is expected.

17:00 ET
BoC’s Governor Macklem delivers video remarks at a BIS event.

Earnings
16:00 ET
Amazon Q4 2024 Earnings
Est. EPS: $1.74
Est. Rev: $187.32B

Good luck!