US Macro Daily(Beta Mode)
Fed Eyes Cuts Amid ISM Data
| Prior Close | ||
|---|---|---|
| Asset | Level | Days Change |
| S&P 500 | 6,868.80 | +0.56% |
| Nasdaq | 23,365.69 | +0.65% |
| Spot VIX | 18.21 | +11.38% |
| 2 Year Bond Yield | 3.50 | 0 bps |
| 10 Year Bond Yield | 4.05 | +3 bps |
| EUR/USD | 1.1637 | +0.32% |
| USD/JPY | 154.96 | -0.76% |
| GBP/USD | 1.325 | +0.09% |
| WTI Oil | Data Unavailable | Data Unavailable |
| Gold | 4,256.04 | +0.91% |
| Bitcoin | 85,732.14 | -5.13% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| ISM Manufacturing PMI | 48.70 | 48.60 | 10:00 |
| ISM Manufacturing Employment | 46 | - | 10:00 |
| Speech by Fed's Chair Powell | - | - | 20:00 |
| Speech by Fed's Bowman | - | - | 10:00 |
| API Weekly Crude Oil Stocks | -1.9m | - | 16:30 |
- Markets rallied on Black Friday, with S&P 500 up 0.5% and Nasdaq gaining 0.8%, driven by renewed Fed rate cut optimism.
- ISM Manufacturing PMI at 10:00 expected at 48.6, down from 48.7, signaling potential slowdown in factory activity.
- Fed Chair Powell's speech at 20:00 may clarify cut timing amid cooling inflation and stable growth data.
Friday's Recap
Markets settled higher on Black Friday, with the S&P 500 closing up 0.5% to 6868.80 amid holiday-shortened trading.
Nasdaq rose 0.8% to 23365.69, led by tech stocks, while the spot VIX fell to 18.21, indicating reduced volatility.
Bond yields edged up modestly, with the 2-year at 3.50% and 10-year at 4.05%, as rate cut bets supported equities.
FX traded calmly, with EUR/USD at 1.1637 and GBP/USD at 1.325, while gold dipped to 4256.04.
Bitcoin surged to 85732.14, reflecting crypto's sensitivity to risk-on sentiment.
No major economic data released, keeping focus on upcoming Fed speeches and ISM prints.
The Day Ahead
ISM Manufacturing PMI at 10:00 is expected at 48.6, below the previous 48.7, potentially pressuring equities if it signals further contraction.
Employment data at the same time forecasts 46.0, unchanged, offering insights into labor market resilience.
Fed Chair Powell speaks at 20:00, with Bowman at 10:00, likely emphasizing data dependence in the cutting cycle amid mixed global signals. (cont...)
