Morning Juice – US Session Prep
Good Morning Traders.
It is Friday the 27th of September. Here is what to look out for today.
Sentiment
US equity futures edged lower on Friday, taking a breather a day after the S&P 500 hit a record amid optimism over the health of the US economy. US-listed Chinese stocks from Alibaba Group Holding Ltd. to PDD Holdings Inc. posted broad-based gains in die premarket session, extending a rally driven by Beijing’s latest stimulus measures. The Nasdaq Golden Dragon China Index is on track for its best week since December 2022, rising 19% this week as of Thursday’s close. Stocks got a fresh boost on Thursday and traders dialed back odds of another major rate cut by the Federal Reserve in November, following data that suggested strength of the US economy.
Docket
08:30 ET
US PCE Data for August
Price Index YoY – Median Forecast: 2.3% | Prior: 2.5% | Range: 2.3% / 2.2%
Price Index MoM – Median Forecast: 0.1% | Prior: 0.2% | Range: 0.2% / 0.1%
Core PCE Price Index YoY – Median Forecast: 0.2% | Prior: 0.2% | Range: 0.2% / 0.1%
Core PCE Price Index MoM – Median Forecast: 2.7% | Prior: 2.6% | Range: 2.8% / 2.6%
Consumer Spending – Median Forecast: 0.3% | Prior: 0.5% | Range: 0.6% / 0.1%
Canadian GDP MoM for July
Median Forecast: 0.1% | Prior: 0% | Range: 0.2% / -0.2%
10:00 ET
University of Michigan Data
Sentiment – Median Forecast: 69.4 | Prior: 69 | Range: 72 / 68
1-Year Inflation – Median Forecast: 2.7% | Prior: 2.7% | Range: 2.7% / 2.7%
5-Year Inflation – Median Forecast: 3% | Prior: 3.1% | Range: 3.1% / 3%
Speakers
09:30 ET
Fed’s Collins and Fed’s Kugler will travel to Fitchburg, Mass, to meet with small business and community leaders in a series of meetings.
13:15 ET
Fed’s Bowman speaks in a moderated conversation at Alabama Bankers Association Bank CEO Meeting.
