Morning Juice – US Session Prep

Good Morning Traders.
It is Monday the 26th of August. Here is what to look out for today.

Sentiment
This morning saw small gains in US futures as traders evaluated the effects of a policy easing by the Federal Reserve in the wake of Chair Jerome Powell’s dovish remarks.

Futures for the S&P 500 and Nasdaq 100 increased by roughly 0.2% apiece following advances of over 1% for both indices on Friday.
The case for an interest rate cut next month has largely been made thanks to Powell’s Jackson Hole address, but the focus now is on the scale of the cut and what it would mean for the status of the economy.

Financial markets began to position for cheaper US borrowing prices after Fed Powell declared that the “time has come” to switch to monetary easing. Investors increased their bets on a half-point rate cut in September, but such a decrease could indicate that the economy is headed for a rough landing, which would reduce demand for stocks.

Docket
08:30 ET
US Durable Goods July Prelim
Median Forecast: 4.2% | Prior: -6.7% | Range: 8.2% / -9%

US Core Durable Goods July Prelim
Median Forecast: 0% | Prior: 0.4% | Range: 0.3% / -0.2%

11:30 ET
US sells $76 bln in 3-Month Bills at Auction
US sells $70 bln in 6-Month Bills at Auction

Speakers
14:00 ET
Fed’s Daly Speaks on Bloomberg TV
Watch Here

Good Luck!