Morning Juice – US Session Prep

Good Morning Traders.
It is Thursday the 3rd of October. Here is what to look out for today.

Sentiment
US stock futures dipped as investors awaited the next slate of data on the labor market, beginning with weekly jobless claims later on Thursday. Oil options show investors are betting prices will rise further as escalating hostilities between Israel and Iran raise the risk that energy infrastructure or crude tankers will be targeted. US Stocks are off recent record highs amid fears of a wider conflict in the Middle East. Markets also await monthly jobs data due later this week for clues over the Federal Reserve’s policy path. Treasuries edged lower across the curve ahead of US jobs and ISM numbers as well as remarks from Fed’s Schmid, Kashkari, and Bostic. The pound underperformed G-10 peers after dovish comments from BOE Governor Andrew Bailey on the path for interest rates, while the yen fell to a six-week low against the dollar.

Docket
08:30 ET
Weekly Jobless Claims
Initial – Median Forecast: 222K | Prior: 218K | Range: 230K / 215K
Continued – Median Forecast: 1.83M | Prior: 1.834M | Range: 1.848M / 1.825M

09:45 ET
US S&P PMI’s for September
Services – Median Forecast: 55.4 | Prior: 55.4 | Range: 55.4 / 55.2
Composite – Median Forecast: 54.3 | Prior: 54.4 | Range: 54.4 / 54.1

10:00 ET
US Factory Orders
Median Forecast: 0.1% | Prior: 5% | Range: 0.8% / -1.1%

US ISM Services
Median Forecast: 51.7 | Prior: 51.5 | Range: 52.5 / 50.7

Speakers
10:40 ET
Fed’s Kashkari moderates a discussion with Fed’s Bostic on an inclusive economy at an event at the Minneapolis Fed.