Morning Juice – US Session Prep (3rd October)

Sentiment
A tech-fueled rally in global stocks continued unabated as another round of big-ticket artificial intelligence deals and partnerships stoked fresh optimism. Federal Reserve Bank of New York President John Williams argued against the idea that central banks are resorting to unconventional tools when they seek to influence the economy through balance sheet policies. European Central Bank President Christine Lagarde warned against lowering standards in banking regulation, arguing that scrutiny of non-banks must be strengthened instead. Options markets still lean bearish on the pound overall, but the mood has eased compared with a week ago. Except around one key date.

Docket
NOTE: US Government Data delayed by the US Government Shutdown

08:30 ET
US Employment Situation for September
Nonfarm Payrolls
Unemployment Rate
Average Earnings
[Release postponed due to government shutdown]

09:45 ET
US S&P Services PMI September Final
Forecast: 53.9 | Prior: 53.9 | Range: 54 / 53.5

10:00 ET
US ISM Services PMI for September
Forecast: 51.7 | Prior: 52 | Range: 53 / 50.2

Speaker
08:30 ET
Fed’s Goolsbee on CNBC.

09:20 ET
BoE’s Governor Bailey delivers the keynote speech at the Klaas Knott farewell symposium in Amsterdam.

09:50 ET
ECB’s Schnabel speaks in Amsterdam.

13:30 ET
Fed’s Logan speaks at the 10th Annual Conference of International Economics, hosted by the Federal Reserve Bank of Dallas, the University of Houston and the Banco de México
No text is expected, but there will be a Q&A.

13:40 ET
Fed Vice Chair Philip Jefferson speaks on economic outlookat and monetary policy framework at Drezel University
Text and Q&A are expected, no webcast.

Good luck!