Good Morning Traders
It is Tuesday the 24th of October, here is what to look out for today.
This morning, US Treasury yields declined for a third day on the back of short-covering ahead of key economic data this week.
The Dollar was little changed after falling earlier to the lowest in nearly two weeks.
In a year when the US economy exceeded almost everybody’s expectations, the underlying federal deficit roughly doubled, spotlighting a dire fiscal trajectory likely to only worsen the partisan budget battles in Washington.
The jump in US Treasury yields above 5% on Monday set off renewed investor tumult but is unlikely to trigger concerns at the Federal Reserve unless the rise becomes more volatile or persistent.
US Treasury staff and counterparts from China held the first meeting of a new working group dedicated to discussing economic topics, yet another small sign of improving ties between the two powers
US S&P PMI October Flash
Manufacturing - Median Forecast: 49.4 | Prior: 49.8 | Range: 50.1 / 49
Services - Median Forecast: 49.9 | Prior: 50.1 | Range: 50.7 / 49
Composite - Median Forecast: 50 | Prior: 50.2 | Range: 50.1 / 49.8
US Sells $51 Bln in 2-Year Notes at Auction
Alphabet Q3 Earnings
Est. EPS $1.45
Est. Rev $63.04B
Visa Q4 2023 Earnings
Est. EPS $2.24
Est. Rev $8.56B
Microsoft Q1 2024 Earnings
Est. EPS $2.66
Est. Rev $54.54B