Morning Juice – US Session Prep (26th November)
Sentiment
US stock futures rose as increased prospects for interest rate decreases fuelled traders’ renewed optimism heading into the Thanksgiving holiday.
UK gilts remained stable ahead of Wednesday’s budget.
The S&P 500 was poised to extend a three-day, 3.5% rise fuelled by broad sector gains. The US benchmark also received technical support, recovering its 50-day moving average.
Alphabet gained in premarket trade after hitting three straight all-time highs. Nvidia was on track to post its second consecutive daily loss.
Equities are regaining momentum after a sharp sell-off in early November due to concerns about inflated technology valuations.
Sentiment has since risen as Fed’s dovish words reignited hopes for a December rate decrease.
Wednesday’s data releases in the US include weekly initial unemployment claims and preliminary durable goods orders for September.
Tuesday’s statistics on private payrolls and consumer sentiment bolstered predictions for a December drop by highlighting continuing labour market concerns.
Docket
08:30 ET
US Weekly Jobless Claims
Initial Claims – Forecast: 225k | Prior: 220k | Range: 240k / 215k
Continued Claims – Forecast: 1.936M | Prior: 1.974M | Range: 1.975M / 1.947M
08:30 ET
US Durable Goods September Prelim
Forecast: 0.5% | Prior: 2.9% | Range: 6.7% / -2.4%
10:30 ET
US Weekly EIA Crude Oil Inventories
Forecast: -2.363M | Prior: -3.426M | Range: -0.5M / -4.09M
13:00 ET
US sells $44 bln 7-Year Notes
14:00 ET
Fed’s Beige Book
Speakers
09:00 ET
ECB’s Vujcic speaks on euro-zone monetary-policy outlook at A Danske Bank event.
11:05 ET
ECB’s Lane speaks in a fireside chat organised by Santander in Paris.
No text will be made available.
12:00 ET
ECB’s President Lagarde gives acceptance speech at Transatlantikpreis ceremony 2025 at Steuben-Schurz-Gesellschaft in Frankfurt.
The text will be made available on the ECB’s website.
15:10 ET
RBNZ Governor Hawkesby speaks at the Finance & Expenditure Select Committee on MPS.
Good luck!
