Morning Juice – US Session Prep

Good Morning Traders!
It is Tuesday the 14th of January. Here is what to look out for today.

Sentiment
World stocks rose and the dollar fell following reports that President-elect Donald Trump’s incoming economic team is considering a gradual increase in trade tariffs as a strategy to prevent inflation spikes.

Nasdaq 100 futures rose 0.6%, putting the underlying index on track to end its two-day losing streak.
According to a report last night quoting people familiar with the matter, graduated tariff hikes of 2% to 5% per month are being discussed, rather than aggressive one-time increases. The so-called Magnificent Seven tech stocks rose in premarket trading, with Nvidia and Tesla up more than 2%.

The latest tariff news comes at a time when markets are increasingly concerned about a resurgence of inflation, which would prevent central banks, particularly the Fed, from cutting rates as much as previously expected. Trump’s policies, such as mass deportations and higher trade levies, have fuelled such concerns.

That makes this week’s US inflation data even more important, especially if it shows the disinflationary trend had already stalled at the end of last year.
Producer inflation is expected later this morning, followed by a CPI report on Wednesday and December retail sales data that could confirm strong holiday spending.

The focus is also shifting to the US corporate earnings season, with banks such as Citigroup, JPMorgan, and Goldman Sachs reporting on Wednesday. Analysts predict that the S&P 500’s fourth-quarter earnings-per-share will increase 7.3% from the previous year.

Docket
08:30 ET
US PPI for December
YoY – Median Forecast: 3.5% | Prior: 3% | Range: 4.1% / 3.2%
MoM – Median Forecast: 0.4% | Prior: 0.4% | Range: 0.5% / 0.1%
Core YoY – Median Forecast: 3.8%| Prior: 3.4% | Range: 3.8% / 3.6%
Core MoM – Median Forecast: 0.3% | Prior: 0.2% | Range: 0.3% / -0.1%

12:00 ET
EIA Short-Term Energy Outlook Report

Speakers
10:00 ET
Fed’s Schmid speaks to the Central Exchange in Kansas City.

15:05 ET
Fed’s Williams gives opening remarks at a New York Fed event called: An Economy That Works for All: Housing Affordability. Text is expected.

Good luck!