Morning Juice – US Session Prep
Good Morning Traders!
It is Thursday the 15th of August. Here is what to look out for today.
Sentiment
US equity futures and European stocks trimmed earlier gains as traders anticipated more economic data that could support the case for Federal Reserve interest rate cuts.
According to data released yesterday, core consumer prices in the United States increased at the slowest rate since 2021 in July.
Traders are fully pricing in a 25 basis point cut by the Fed next month, as well as 100 basis point reductions through the end of the year.
Walmart jumped 7.8% in premarket trading after raising its full-year sales and profit guidance, as the retailer expects to attract shoppers looking for deals. Cisco Systems rose after the networking equipment manufacturer’s earnings exceeded expectations.
Docket
08:30 ET
Weekly US Jobless Claims
Initial – Median Forecast: 235K | Prior: 233K | Range: 245K / 223K
Continued – Median Forecast: 1.87M | Prior: 1.875M | Range: 1.895M / 1.85M
US Retail Sales for July
MoM – Median Forecast: 0.4% | Prior: 0% | Range: 0.9% / -0.1%
Core MoM – Median Forecast: 0.1% | Prior: 0.4% | Range: 0.4% / -0.4%
NY Fed Manufacturing for August
Median Forecast: -6 | Prior: -6.6 | Range: 1 / -12.9
US Philly Fed Business Index for August
Median Forecast: 5.2 | Prior: 13.9 | Range: 15 / -5
09:15 ET
US Industrial Production MoM for July
Median Forecast: -0.3% | Prior: 0.6% | Range: 0.3% / -0.9%
US Capacity Utilization
Median Forecast: 78.5% | Prior: 78.8% | Range: 79.1% / 77.9%
10:00 ET
US Business Inventories for June
Median Forecast: 0.3% | Prior: 0.5% | Range: 0.3% / 0.1%
US NAHB Housing Market Index
Median Forecast: 43 | Prior: 42 | Range: 46 / 40
Speakers
09:10 ET
Fed’s Musalem speaks on the US economy and monetary policy at Greater Louisville Inc.’s Regional Economic Development Update. No text expected but there will be a Q&A.
13:10 ET
Fed’s Harker gives speech on the Federal Reserve Bank of Philadelphia’s Center for the Restoration of Economic Data. Text is expected but no Q&A.
Good luck!
