The Market Brief
Hey team, the market is heading into an eventful session as traders react to pre-Thanksgiving US data, including key economic reports and the crucial PCE inflation data at 10:00 AM.
Let’s review Tuesday’s session and look ahead to what’s next!
Impact Snapshot
US PCE Inflation - 10:00am
Jobless claims slide to 7-month low
US economy expands by 2.8% in Q3
US Thanksgiving holiday. Stock Markets closed, Thursday
Macro Viewpoint
US equity futures traded in mixed directions as traders assessed Donald Trump’s latest cabinet appointments and prepared for a wave of economic data that could provide insight into the outlook for interest rates.
The release of the minutes from the Federal Reserve's November meeting on Tuesday revealed that policymakers were uncertain about the prospects for interest rate cuts and the extent to which current rates were affecting the economy.
Traders are currently pricing in a 62.8% likelihood that the Fed will reduce borrowing costs by 25 basis points in December.
Ahead of the Thanksgiving holiday, key US data is expected, including the Personal Consumption Expenditure (PCE) report, the Fed's preferred inflation measure, scheduled for release at 10 a.m. ET.
