Morning Juice – US Session Prep

Good Morning Traders.
It is Wednesday the 24th of July.
Here is what to look out for today.

Sentiment
Stocks fell following disappointing results from Tesla, LVMH, and Deutsche Bank, raising concerns about the health of global business as the reporting season begins.
Nasdaq 100 index futures fell more than 1%.

Tesla’s stock fell in New York premarket trading following a fourth consecutive quarter of disappointing earnings.
Deutsche Bank reported its first quarterly loss in four years and cancelled plans for a buyback.
LVMH fell as sales in China fell during the quarter, adding to evidence that an economic slowdown is harming European companies.

The euro fell as European data showed that private-sector activity barely increased.

Docket
09:45 ET
BoC Rate Decision
Median analyst forecast is for a 25 bps cut to 4.5% from 4.75%.

Rate futures pricing at 07:30 ET

S&P PMIs July Prelim
Manufacturing – Median Forecast: 51.7 | Prior: 51.6 | Range: 52.5 / 51.1
Services – Median Forecast: 54.8 | Prior: 55.3 | Range: 55.5 / 53.5
Composite – Median Forecast: 53.9 | Prior: 54.8 | Range: 55 / 52

10:00 ET
US New Home Sales for June
Median Forecast: 640K | Prior: 619K | Range: 659K / 600K

10:30 ET
US Weekly EIA Crude Inventories
Median Forecast: -2.919M | Prior: -4.87M | Range: 2M / -3.6M

13:00 ET
US Sells $70 Bln in 5-Year Notes at Auction

Earnings
IBM Q2 2024 Earnings
EPS: 57c
Rev: $29.97B

Good luck!