Morning Juice – US Session Prep

Good Morning, Traders
It is Wednesday the 3rd of April, here is what to look out for today.

Sentiment
US equities were poised to extend this week’s losses as investors weigh signs of economic resilience against mounting concerns that the Federal Reserve will keep interest rates higher for longer. Investors await comments from Powell who may take the opportunity to clarify the central bank’s current outlook for three rate cuts by year-end in the face of better-than-expected US job openings and factory goods orders data.

Docket
08:15 ET
US ADP Employment Change for March
Forecast 150K | Prior 140K | Range 185K/110K

09:45 ET
US S&P Composite PMI March Final
Prior 52.2

US S&P Services PMI
Forecast 51.7 | Prior 51.7 | Range 51.9/51.5

10:00 ET
US ISM Services PMI
Forecast 52.8 | Prior 52.6 | Range 53.9/51.3

10:30 ET
Weekly EIA Crude Oil Inventories
Forecast -1M | Prior 3.165M | Range 3M/-2M

Speakers
08:30 ET
Fed’s Bostic speaks on CNBC

09:00 ET
ECB’s de Cos speaks

09:45 ET
Fed’s Bowman speaks on bank liquidity, regulation and the Fed’s role as the lender of last resort. Text is expected but no Q&A.

12:00 ET
Fed’s Goolsbee gives opening remarks at the virtual event Preventing Elder Financial Exploitation: Research, Policies and Strategies. No text or Q&A expected.

12:10 ET
Fed’s Powell speaks at the Stanford Business, Government, and Society Forum about the economic outlook. Text and Q&A are expected.

13:10 ET
Fed’s Barr speaks about the Community Reinvestment Act in Washington DC. No text but there will be a Q&A.

16:30 ET
Fed’s Kugler speaks on the outlook for the US economy and monetary policy in St. Louis. Both text and Q&A are expected.