The Market Brief
Hey team, futures remain mixed as the market anticipates another slew of economic reports and Powell’s speech later in the day.
Let’s recap yesterday’s session and see what’s next!
Impact Snapshot
🟥 PPI Inflation - 8:30am
🟥 Unemployment Claims - 8:30am
🟥 Fed Chair Powell speech - 3:00pm
Macro Viewpoint
U.S. stock index futures held steady on Thursday as investors awaited new economic data and remarks from Federal Reserve Chair Jerome Powell later in the day, seeking insights into the future of the economy and monetary policy.
Expectations for a December rate cut grew following Wednesday's consumer price index report, which aligned with forecasts.
According to CME FedWatch, traders are currently pricing in an 82.3% probability of a 25-basis point interest rate cut at the Fed’s December meeting.
Powell is set to share his economic outlook with business leaders in Dallas, a day after several Fed officials refocused on inflation concerns while deliberating the timing, pace, and extent of potential rate cuts.
