Morning Juice – US Session Prep (7th May)

Sentiment
US stock futures rose and the dollar snapped three days of declines as China and the US prepared to hold their first confirmed trade talks since President Donald Trump unleashed his global tariff war.

Futures contracts for the S&P 500 and Nasdaq 100 rose after US and Chinese officials announced they will meet this week in Switzerland.
Treasury Secretary Bessent told Fox News the meeting will focus on de-escalation rather than reaching a deal, but said the current tariff rates aren’t sustainable.

The dollar index rose on the news of the US-China trade talks, while gold and Treasuries fell as demand for haven assets ebbed.
Traders also awaited a Federal Reserve meeting later today, where officials are expected to hold interest rates unchanged but could offer clues on this year’s monetary-easing path.

Sentiment was also lifted by a reduction in China’s policy rate, as Beijing unveiled several measures to support its economy. In Europe, the Stoxx 600 benchmark slipped, tracking Wall Street’s weaker close on Tuesday.

Docket
10:30 ET
US Weekly EIA Crude Oil Inventories
Forecast: -1.858M, Prior: -2.696M, Range: 1M / -3M

14:00 ET
US Interest Rate Decision
Forecast sees rates remaining unchanged at 4.5%

FOMC Rate Statement

Speakers
14:30 ET
FOMC Press Conference with Chair Powell following the US Interest Rate Decision

Good luck!