Morning Juice – US Session Prep (24th September)

Sentiment
US markets are likely to resume their climb after Alibaba pledged more expenditure and Micron issued an upbeat projection, reinforcing optimism about AI.

Nasdaq 100 futures increased after large tech fell in the previous session, breaking a string of records.
Alibaba gained 9% in typhoon-hit Hong Kong as it announced plans to increase AI spending beyond an initial $50 billion target.
Micron gained in premarket trading as solid earnings confirmed the boom’s continued strength.
Gold remained around all-time highs.

The Dollar recovered 0.3% after back-to-back losses.
US Treasuries were little changed, with the 10-year yield at 4.11%.
European stocks slipped 0.3%. The region’s defense stocks rallied after Trump’s latest criticism of Russia.

Bullishness over AI’s vast potential has fueled multiple all-time highs in stocks this year, offsetting worries about geopolitical risks and trade tensions.
Prospects for rapid Fed policy easing have added to the buoyant mood, as investors bet that lower interest rates and a resilient economy will lift corporate earnings.

Docket
10:00 ET
US New Home Sales for August
Forecast: 0.65M | Prior: 0.652M | Range: 0.702M / 0.625M

10:30 ET
EIA Weekly Crude Oil Inventories
Median Forecast: 0.802M | Prior: -9.285M | Range: 3.157M / -2M

13:00 ET
US sells $70 bln 5-Year Notes

Speakers
12:30 ET
BoE’s Greene gives a speech in Glasgow on supply shocks and monetary policy.

16:10 ET
Fed’s Daly will deliver keynote remarks on the outlook for the economy at the annual Spencer Fox Eccles Convocation at the University of Utah’s School of Business.
After her remarks she will join Kurt Dirks, Dean of the David Eccles School of Business, for a conversation.
Text: yes; Q&A: moderated

Good luck!