Morning Juice – US Session Prep

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

Sentiment
Stock futures pointed to a sharply lower opening for Wall Street, with tech stocks in particular hurt by a slew of disappointing earnings and new signs of Chinese innovation in artificial intelligence.

Contracts on the Nasdaq 100 and S&P 500 fell.
Marvell Technology shares were among the biggest premarket losers, falling about 15% after the chipmaker’s earnings and revenue forecast failed to meet investors’ lofty expectations.
CrowdStrike Holding fell after the cybersecurity company announced a lower-than-expected earnings outlook.

Chip shares came under renewed pressure after Alibaba introduced its Qwen platform, a model that it claims performs as well as Chinese start-up DeepSeek but with a fraction of the data.
The news, alongside the underwhelming earnings, are denting investor confidence in US companies’ dominance in AI.

Germany’s spending plan pushed Bunds to their lowest levels since 1990 on Wednesday, and the selloff continued on Thursday.
The moves reverberated throughout the eurozone and beyond, with Japanese 10-year borrowing costs reaching their highest level in more than a decade and Treasury yields rising three basis points.

Investors are now waiting for the European Central Bank’s meeting, which is expected to result in a 25 basis-point interest rate cut and could provide insight into how rate-setters will react to the increased spending plan.

Docket
08:30 ET
US Weekly Jobless Claims
Initial Claims – Median Forecast: 233k | Prior: 242K | Range: 274k / 218k
Continued Claims – Median Forecast: 1.877M | Prior: 1.862M | Range: 1.89M / 1.832M

US Trade Balance for January
Median Forecast: -$129B | Prior: -$98.4B | Range: -$89B / -$131.8B

Speakers
08:45 ET
ECB Press Conference with President Lagarde following the ECB Rate Decision.

Fed’s Harker speaks on economic education.
Text and Q&A are both expected, but the speech will not comments on the economic outlook or monetary policy.

12:00 ET
US Treasury Secretary Bessent speaks

15:30 ET
Fed’s Waller speaks on the economic outlook with WSJ’s Nick Timiraos.
No text is expected, but there will be a Q&A.

Earnings
16:15 ET
Costco Q2 2025 Earnings
Est. EPS: $4.09
Est. Rev: $63.2B

Broadcom Q1 2025 Earnings
Est. EPS: $1.50
Est. Rev: $14.62B

Good luck!