Morning, Traders!
It is Friday the 22nd of December, here are some things to look out for today.
Sentiment
Contracts on the S&P 500 fell 0.1% this morning in New York. The index is up 0.6% this week through Thursday and is headed for its longest streak of weekly gains since 2017. Those on the Nasdaq 100 fell 0.2%. There are signs of fatigue in US stocks after a two-month rally brought the S&P 500 Index near a record high. While the Fed's dovish pivot last week stoked risk appetite, that led to concerns about overheating and warnings over a pullback risk. These developments could provide more insights into the outlook for interest rates in the coming year.
Docket
08:30 ET
US PCE Price Index for November
YoY - Median Forecast: 2.8% | Prior: 3% | Range: 3% / 2.6%
MoM - Median Forecast: 0% | Prior: 0% | Range: 0.1% / -0.1%
Core YoY - Median Forecast: 3.3% | Prior: 3.5% | Range: 3.5% / 3.1%
Core MoM - Median Forecast: 0.2% | Prior: 0.2% | Range: 0.3% / 0%
US Consumer Spending for November
Median Forecast: 0.3% | Prior: 0.2% | Range: 0.5% / 0.1%
US Durable Goods November Prelim
Median Forecast: 2.4% | Prior: -5.4% | Range: 7% / -0.1%
Canadian GDP MoM for October
Median Forecast: 0.2% | Prior: 0.1% | Range: 0.3% / 0%
10:00 ET
The University of Michigan December Final
Sentiment - Median Forecast: 69.4 | Prior: 69.4 | Range: 71.5 / 68
1-Year Inflation Expectations - Median Forecast: 3.1% | Prior: 3.1% | Range: 3.2% / 3%
5-Year Inflation Expectations - Median Forecast: 2.9% | Prior: 2.8% | Range: 2.9% / 2.7%
US New Home Sales (Units) for November
Median Forecast: 0.69M | Prior: 0.679M | Range: 0.72M / 0.65M
NOTE: The Financial Juice manned print and voice news services will be closed at 13:00 ET in observance of the holiday period.
Good luck! & Happy Holidays!
