Morning Juice – US Session Prep (31st March)

Sentiment
Stocks soared, while oil fluctuated between gains and losses after the Wall Street Journal reported that President Donald Trump had indicated his willingness to terminate the US military campaign against Iran.
S&P 500 futures rose 0.9%, regaining ground following a selloff that put the benchmark on track for its worst month since 2022. Brent traded below $108 per barrel. Treasuries extended their rally, with the two-year yield falling two basis points to 3.81%. The dollar slipped down, as gold strengthened.
The month-long conflict in the Middle East has roiled markets, with Iran responding to US and Israeli attacks with a near-total blockage of the Strait of Hormuz, a critical transit route for roughly a fifth of world crude supply. Brent has risen about 50% as a result of the disruption, raising concerns of an inflationary spiral, with US gasoline prices exceeding $4 per gallon for the first time since 2022.

08:30 ET
January Data
Canadian GDP MoM Forecast 0.0%, Previous 0.2% | Range: 0.2% / -0.1%

10:00 ET
March Data
US CB Consumer Confidence Forecast 87.9, Previous 91.2 | Range: 91.0 / 85.0

February Data
US JOLTS Job Openings Forecast 6.89M, Previous 6.946M | Range: 7.05M / 6.45M

Events & Speakers
09:10 ET
ECB’s Sileipjen Speaks

12:00 ET
Fed’s Goolsbee gives opening remarks on Human Capital at Chicago Fed Economic Mobility Project.
Text:TBD Q&A: No

13:10 ET
Fed’s Schmid speaks on monetary policy and eco outlook at Rotary Club of Oklahoma
Text: Yes Q&A: Yes

15:00 ET
Fed’s Barr discusses stablecoin regulation at Federalist Society event
Text: Yes Q&A: Yes

Good Luck!