Morning Juice – US Session Prep
Good Morning Traders.
It is Tuesday the 17th of September. Here is what to look out for today.
Sentiment
US stock futures gained, paving the way for the benchmark S&P 500 index to advance for the seventh day in a row, as investors bet on the Federal Reserve’s first interest rate cut in four years. Contracts for the S&P 500 rose this morning in New York, while technology-heavy Nasdaq 100 futures rose 0.5% a day after the tech behemoths fell. US stocks have recovered from an August trough on expectations that Fed policy easing will allow the economy to avoid a recession. The S&P 500 is on track for its longest rise in a month and is closing in on it’s July record high.
Docket
08:30 ET
Canadian CPI for August
YoY – Median Forecast: 2.1% | Prior: 2.5% | Range: 2.4% / 2%
MoM – Median Forecast: 0% | Prior: 0.4% | Range: 0.2% / -0.2%
US Retail Sales for August
MoM – Median Forecast: -0.2% | Prior: 1% | Range: 0.3% / -0.6%
Core MoM – Median Forecast: 0.2% | Prior: 0.4% | Range: 0.6% / -0.8%
09:15 ET
US Industrial Production MoM for August
Median Forecast: 0.2% | Prior: -0.6% | Range: 0.7% / 0.1%
10:00 ET
US Business Inventories for July
Median Forecast: 0.3% | Prior: 0.3% | Range: 0.3% / 0.4%
US NAHB Housing Market Index for September
Median Forecast: 40 | Prior: 39 | Range: 43 / 38
13:00 ET
The US Sells $13 Bln in 20-Year Bonds at Auction
Speakers
10:00 ET
Fed’s Logan gives pre-recorded welcome remarks at the Eleventh District Banking Conference. (The welcome remarks will not address monetary policy or the economy.)
