Morning Juice – US Session Prep

Morning, Traders!
It is Friday, the 17th of May. Here are some things to look out for today.

Sentiment
Stocks hovered below this week’s record highs, as lower bets on Federal Reserve policy easing prompted a retreat from riskier assets.

US futures contracts were little changed after Wall Street retreated from all-time highs the previous session, while Europe’s benchmark index fell. The dollar index edged higher, and Treasury yields advanced.

This morning’s caution reflected a revision of US rate cut expectations to only one in 2024, after policymakers stated that inflation may take longer to reach the 2% target.
Investors will keep an eye out for comments from Fed officials Waller and Daly later today for more information on the policy path.

Speakers
10:15 ET
Fed’s Waller speaks on payments innovation, technical standards and the Fed’s roles to the International Organization for Standardization Technical Committee.
Text is expected, but no Q&A.
Fed’s Kashkari briefly introduces Governor Waller.
Watch Here

12:15 ET
Fed’s Daly gives commencement address at the University of San Francisco School of Management.
Text is expected, but no Q&A.
Watch Here

Good luck!