Good Morning Traders! This Friday we see the start of earnings season and get UK GDP data.
Here is what to expect from today.
Sentiment
China's consumer prices declined for the third consecutive month in December, indicating weak domestic demand and prompting experts to ask for further stimulus. Exports experienced their first full-year drop since 2016. The central bank is set to slash a key policy rate and inject more cash into the banking system on Monday as it strives to counter deflationary forces.
Oil prices rose after the United States and its allies conducted airstrikes against Houthi rebel targets in Yemen, intensifying reprisal for attacks on ships in the Red Sea. Secretary of State Antony Blinken stated that US allies in the Middle East are prepared to take steps towards long-term stability in the region.
Bitcoin pared gains after jumping beyond $49,000 for the first time since December 2021, as trading began for the first US exchange-traded funds that invest directly in the largest cryptocurrency.
A single block trade in the Fed funds futures market, struck as the dust settled following Thursday's December inflation data, was the largest ever witnessed of its kind.
Banks borrowed a record amount from the Federal Reserve's Bank Term Funding Programme, as two of the central bank's senior policymakers signalled that the emergency lending facility would close as planned in March.
Docket
02:00 AM ET
UK GDP Estimate YoY
Median Forecast 0.2% | Prior 0.3%
UK GDP Estimate MoM
Median Forecast 0.2% | Prior -0.3% | Range 0.4%/0.0%
UK GDP Estimate 3M/3M
Median Forecast -0.1% | Prior 0.0% | Range 0.1%/-0.2%
UK Manufacturing Production MoM
Median Forecast 0.3% | Prior -1.1% | Range 1.1%/-0.5%
02:45 AM ET
French HICP YoY Final
Median Forecast 4.1% | Prior 4.1% | Range 4.1%/4.1%
Speakers
07:30 AM ET
ECB's Lane Speaks
Earnings
05:55 AM ET
United Health Q4 2023 Earnings
Est. EPS: $5.97 | Est. Rev: $92.11B
06:15 AM ET
Blackrock Q4 2023 Earnings
Est. EPS: $8.88| Est. Rev: $4.62B
06:45 AM ET
Bank of America Q4 2023 Earnings
Est. EPS: $0.66 | Est. Rev: $23.63B
06:55 AM ET
Wells Fargo Q4 2023 Earnings
Est. EPS: $1.06 | Est. Rev: $20.35B
07:00 AM ET
JPMorgan Q4 2023 Earnings
Est. EPS: $3.62 | Est. Rev: $40.23B
Good Luck today, Traders!