Morning Juice – US Session Prep

Morning, Traders!
It is Thursday the 21st of November, here are some things to look out for today.

Sentiment
US equity futures reversed declines and traded little changed, as strong results from Snowflake boosted software stocks.
Oil prices rose as investors worried about the war in Ukraine, while Bitcoin approached $100,000.

S&P 500 contracts pointed to a flat start on Wall Street as traders weighed Nvidia’s disappointing forecast against Snowflake’s 20% premarket surge, which lifted its peers.
With Bitcoin approaching $100,000, MicroStrategy, the largest publicly traded corporate holder of the cryptocurrency, surged as much as 11% in early trading.
10-year US government bond yields and the dollar remained stable.

Fears that the Russia-Ukraine conflict is escalating boosted oil and gold prices, while European natural gas futures hit their highest level in a year.
Ukraine reported that Russia launched an intercontinental ballistic missile during an overnight attack, while a Kremlin spokesman described Kyiv’s previous use of UK Storm Shadow missiles as a new escalation.

Traders will be watching US initial jobless claims later Thursday for signs of economic strength and the Federal Reserve’s interest-rate path.
The expected decision on President-elect Donald Trump’s nominee for Treasury secretary is also under consideration.

Docket
08:30 ET
US Weekly Jobless Claims
Initial Claims – Median Forecast: 220K | Prior: 217K | Range 227K / 210K
Continued Claims – Median Forecast: 1.88M | Prior: 1.873M | Range: 1.9M / 1.85M

10:00 ET
US Existing Home Sales for October
Median Forecast: 3.95M | Prior: 3.84M | Range: 4.1M / 3.8M

Eurozone Consumer Confidence November Flash
Median Forecast: -12.4 | Prior: -12.5 | Range: -11 / -14

11:30 ET
US sells $95 bln 4-Week Bills

13:00 ET
US sells $17 bln 10-Year TIPS

Speakers
08:45 ET
Fed’s Hammack gives welcome remarks at the 2024 Financial Stability Conference.
No text is expected.

09:00 ET
BoE’s Mann speaks in a fireside chat with Brown Brothers Harriman.

10:00 ET
ECB’s Escriva speaks in Spanish Parliament

10:30 ET
ECB’s Lane participates in a policy panel at the 27th Annual Research Conference “The Macroeconomic Effects of Geopolitical Uncertainty” organized by De Nederlandsche Bank in Amsterdam, Netherlands.
ECB’s Elderson speaks at the University of Cyprus.

11:00 ET
ECB Governing Council members Holzmann, Kazimir, Vujcic, and the Czech National Bank Deputy Governor Zamrazilova, speak at a conference in Vienna,

12:15 ET
Fed’s Goolsbee participates in a moderated Q&A with the Central Indiana Corporate Partnership.
No text is expected, there will be a Q&A.

12:30 ET
Fed’s Hammack moderates a conversation with Sandra Thompson, Director of the Federal Housing Finance Agency, at the 2024 Financial Stability Conference.

16:40 ET
Fed Vice Chair for Supervision Barr participates in a moderated discussion on banks and artificial intelligence at the 2024 FinRegLab AI Symposium.
No text is expected, but there will be a Q&A.

Good luck!