Morning Juice – US Session Prep (10th December)

Sentiment
Stocks fell ahead of the Fed’s final interest-rate announcement of 2025, as investors waited to see how policymakers view the monetary-policy path for next year.
S&P 500 futures slipped. A surge in US equities has slowed this week as traders pulled back large bets, with contradictory economic data and disagreements among Fed officials clouding the outlook. Europe’s Stoxx 600 edged lower, and Asian markets were broadly neutral.
Treasury yields continued rising, with the 10-year up 2 bps to 4.20%, the highest since early September.
Globally, expectations that rate-cutting cycles are ending have pushed long-term government bond yields to a 16-year high.

Investors are also watching Oracle’s post-market earnings closely amid growing concerns about stretched technology valuations and whether heavy AI-related investment will pay off. The company, burdened by an aggressive spending surge and weaker credit ratings, has become a bellwether for AI-risk sentiment.
Meanwhile, silver extended its rally after breaking above $60 per ounce for the first time on Tuesday. Supply constraints and speculation about further Fed easing helped propel the metal as much as 1.6% higher to a record $61.61 per ounce.

Docket
08:30 ET
US Employment Cost for Q3
Forecast: 0.9% | Prior: 0.9% | Range: 1% / 0.7%

09:45 ET
Bank of Canada Rate Decision 
The forecast expects rates to remain unchanged at 2.25%

10:30 ET
US Weekly EIA Crude Oil Inventories
Forecast: -1.3M | Prior: 0.547m | Range: -0.476m / -6.359m

14:00 ET
US Interest Rate Decision
The forecast expects a 25bps cut to 3.75% from 4%.
FOMC Rate Statement & Summary of Economic Projections

Speakers
10:30 ET
BoC Press Conference with Governor Macklem following BoC Interest Rate

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

Good luck!