Morning Juice – US Session Prep (4th March)

Sentiment
Stocks fell after Treasury Secretary Bessent stated that a potential 15% worldwide tax might go into force this week, refocusing trade concerns as markets watched Middle Eastern developments.
S&P 500 futures barely changed after climbing as high as 0.4%. The New York Times reported earlier on Wednesday that operators from Iran’s Ministry of Intelligence utilized backchannels to communicate with the Central Intelligence Agency a day after the US-Israeli attacks began. Officials questioned whether Iran or the Trump administration were prepared for an exit strategy.
The Dollar ended a two-day streak of advances. Brent crude fell from an intraday peak to trade around $82 per barrel. European stocks gained 1%.
The selloff in global bonds moderated, with the 10-year Treasury yield climbing two basis points to 4.08%. Bitcoin surged to nearly $70,000, indicating a revival of risk appetite.

Docket
08:15 ET
US ADP Employment Change for February
Forecast: 50K | Prior: 22K | Range: 75K / 30K

09:45 ET
US S&P Services PMI Final for February
Forecast: 52.3 | Prior: 52.3 | Range: 52.6 / 52

10:00 ET
US ISM Services PMI for February
Forecast: 53.5 | Prior: 53.8 | Range: 54.5 / 52

10:30 ET
Weekly EIA Crude Oil Inventories
Forecast: 3M | Prior: 15.989M | Range: 3.45M / 2M

Speakers
08:30 ET
ECB’s Guindos speaks before a lecture by Martin Wolf, Financial Times Chief Economics Commentator

10:30 ET
BoC’s Gov. Macklem speaks on the global economic and financial stability risks at a global Risk Institute even in Toronto
The BoC will publish the remarks on its website

13:00 ET
Press Briefing by the White House Press Secretary Leavitt

13:30 ET
Trump Phone Interview

15:00 ET
Trump participates in a Roundtable on Ratepayer Protection Pledge

Earnings
16:15 ET
Broadcom Q1 2026 Earnings

GoodLuck!