Morning Juice – US Session Prep
Morning, Traders!
It is Friday the 7th of March, here are some things to look out for today.
Sentiment
US stock futures pointed to small gains on Wall Street as traders awaited monthly payrolls data for the latest indications of the economy’s health.
Bitcoin fell as details about a US strategic reserve disappointed investors.
S&P 500 futures were up 0.3%, while Nasdaq 100 contracts rose 0.4%, as Broadcom, a chip supplier to Apple and other major tech companies, surged in premarket trading.
The 10-year US Treasury yield remained steady at 4.27%, while the dollar index fell for the fifth consecutive session, the longest losing streak in nearly a year.
According to a survey of economists, US employers likely added 160,000 jobs last month, indicating that the labour market is holding steady in the face of rising policy uncertainty.
Despite President Trump’s decision to delay levies on Mexican and Canadian goods covered by the North American trade agreement, Wall Street failed to rebound on Thursday.
Docket
08:30 ET
US Employment Situation for February
Nonfarm Payrolls – Median Forecast: 160k | Prior: 143k | Range: 300k / 30k
Unemployment Rate – Median Forecast: 4% | Prior: 4% | Range: 4.1% / 3.9%
Average Earnings YoY – Median Forecast: 4.1% | Prior: 4.1% | Range: 4.2% / 3.9%
Canadian Employment Situation for February
Canadian Employment Change – Median Forecast: 20k | Prior: 76k | Range: 46.2k / -15k
Unemployment Rate – Median Forecast: 6.7% | Prior: 6.6% | Range: 6.7% / 6.6%
Speakers
10:15 ET
Fed’s Bowman speaks on “Monetary Policy Transmission Post-COVID” at an event hosted by University of Chicago Booth School of Business.
Text and Q&A are expected.
10:45 ET
Fed’s Williams is a panelist on an discussion about “Monetary Policy Transmission Post-COVID” at an event hosted by University of Chicago Booth School of Business.
Text and Q&A are both expected.
ECB Governing Council members Centeno and Kazaks speak at a Bank of Portugal conference about “Monetary Policy Transmission and the Labor Market.”
12:20 ET
Fed’s Kugler gives a speech on rebalancing labor markets around the world at the Bank of Portugal’s Conference on Monetary Policy Transmission and the Labor Market.
Text and Q&A are both expected.
12:30 ET
Fed Chair Powell gives the lunch keynote speech on the economic outlook at Chicago Booth’s 2025 US Monetary Policy Forum.
Text and Q&A are both expected.
13:00 ET
Fed’s Kugler speaks on monetary policy in panel discussion at Bank of Portugal’s Conference on Monetary Policy Transmission and the Labor Market.
No text is expected, but there will be a Q&A.
Good luck, and have a good weekend!
