Morning Juice – US Session Prep (24th November)
Sentiment
Stocks pared tech-fueled gains as Bitcoin resumed its decline on Monday, signaling that risk sentiment remained fragile after a volatile week.
Nasdaq 100 futures were up 0.4% after earlier rising more than 1%. S&P 500 contracts added 0.2%. In Asia, Alibaba Group Holding Ltd. jumped 4.7% in Hong Kong after a strong debut for its AI app. Alphabet held gains of more than 2% in premarket trading. European stocks were little changed.
Bitcoin fell again toward $86,000 after a weekend rebound and is on track for its worst month since 2022 amid a broader slump in digital assets. Oil edged lower as traders weighed prospects for a potential Ukraine-Russia peace deal. Treasuries rose and the dollar was little changed.
The cautious comeback in tech stocks followed a volatile week marked by concerns over lofty valuations and whether a debt-fueled investment spree in artificial intelligence will deliver long-term returns. With the December Federal Reserve meeting seen as the next key milestone for markets, investors and are relying on dated reports after delays caused by the US shutdown.
Docket
11:30 ET
US 6-Month Bill Auction
Prior High Yield – 3.710%
Prior Bid-to-Cover – 2.80
US 3-Month Bill Auction
Prior High Yield – 3.795%
Prior Bid-to-Cover – 2.790
13:00 ET
US 2-Year Note Auction
Prior High Yield – 3.504%
Prior Bid-To-Cover – 2.59
Speakers
09:45 ET
ECB’s President Lagarde speaks at the High-Level Summit on AI
No Q&A, Text is expected
12:45 ET
ECB’s Nagel speaks on a panel discussion with the topic of focus being “Asserting oneself in a changing world”
16:00 ET
Trump signs an Executive Order
Good Luck!
