Good Morning, Traders!
It is Thursday the 5th of January, here are some things to look out for ahead of today's session.
Last month, Federal Reserve officials reaffirmed their commitment to lowering inflation, warning that an "unwarranted" loosening of financial conditions would jeopardize their efforts to achieve price stability.
After returning to pre-pandemic levels in 2022, the trajectory for this year suggests that payroll growth will level off or reverse course entirely.
While official data continue to show a strong US job market — with job openings exceeding expectations and more readings from the ADP and the BLS due today and tomorrow — anecdotal evidence suggests a weakness in technology.
Amazon is laying off more than 18,000 employees, the most in the company's history.
The dollar index was little changed as the greenback traded mixed against its group of ten peers, with moves limited to narrow ranges. Treasury yields fell slightly.
8:15 AM ET
US ADP Employment Change for December - Median Forecast: 150K | Prior: 127K | Range: 280K / 100K
8:30 AM ET
US Initial Jobless Claims - Median Forecast 225K | Prior 225K | Range 238K/210K
US Continued Jobless Claims - Median Forecast 1.727M | Prior 1.71M | Range 1.75M/1.64M
US International Trade - Median Forecast -63.1B | Prior -78.2B | Range -61.3B/-80.5B
Canadian Trade Balance - Median Forecast 0.5B | Prior 1.21B | Range 1.8B/-0.1B
9:45 AM ET
US S&P Services PMI December Final - Median Forecast 44.4 | Prior 44.4 | Range 44.8/44.4
11:00 AM ET
EIA Weekly Crude Oil Inventories - Median Forecast 1.5M | Prior 0.718M | Range 4M/-4M
11:00 AM ET
US sells $45 bln 4-Week Bills
9:20 AM ET
Fed's Bostic Speaks (Non-Voting Member, Slightly Hawkish)
1:20 PM ET
Fed's Bullard Speaks (Non-Voting Member, Hawkish)