US Macro Daily(Beta Mode)
Oil Stocks Spur Caution
| Prior Close | ||
|---|---|---|
| Asset | Level | Days Change |
| S&P 500 | 6,848.30 | +0.17% |
| Nasdaq | 23,413.67 | +0.59% |
| Spot VIX | 16.57 | -0.12% |
| 2 Year Bond Yield | 3.50 | -1 bps |
| 10 Year Bond Yield | 4.08 | -2 bps |
| EUR/USD | 1.1662 | +0.32% |
| USD/JPY | 155.44 | -0.25% |
| GBP/USD | 1.329 | +0.61% |
| WTI Oil | Data Unavailable | Data Unavailable |
| Gold | 4,205.00 | -0.03% |
| Bitcoin | 93,035.30 | +1.89% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| Speech by Fed's Chair Powell | - | - | - |
| Speech by Fed's Bowman | - | - | - |
| API Weekly Crude Oil Stocks | -1.9m | - | -2.5m |
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| MBA 30-Year Mortgage Rate | 6.40 | - | 07:00 |
| ADP Employment Change | 42,000 | 5,000 | 08:15 |
| Export Prices Month-over-Month | 0.30 | 0.10 | 08:30 |
| Import Prices Month-over-Month | 0.30 | 0.10 | 08:30 |
| Industrial Production Month-over-Month | 0.10 | 0 | 09:15 |
| Services Sector PMI | 52.40 | 52.10 | 10:00 |
| EIA Weekly Crude Oil Inventory | 2.8m | -1.9m | 10:30 |
| EIA Weekly Gasoline Inventory | 2.5m | - | 10:30 |
| Weekly Jobless Claims | 216,000 | 220,000 | 08:30 |
| Speech by Fed's Bowman | - | - | 12:00 |
- API crude oil stocks rose more than expected, boosting oil prices and signaling potential supply constraints.
- Fed speeches from Powell and Bowman reiterated cautious optimism, but lacked new directional guidance.
- Markets remained stable with low volatility, as investors digested economic data ahead of key releases.
Yesterday's Recap
Fed Chair Powell delivered a speech honoring George Shultz, avoiding comments on current monetary policy or the economy.
Fed Governor Bowman also spoke, though details remained sparse without impacting market sentiment.
API weekly crude oil stocks fell by 2.48 million barrels, beating expectations and contributing to Brent crude trading above $62 per barrel.
Equities closed flat with the S&P 500 at 6848.30 and Nasdaq at 23413.67, while bond yields held steady at 3.50% for 2-year and 4.08% for 10-year.
FX markets saw minimal movement, with EUR/USD at 1.1662 and GBP/USD at 1.329, amid calm trading.
The Day Ahead
The ADP employment change report at 08:15 is expected at 5000, potentially influencing expectations for upcoming payrolls data.
Export and import prices at 08:30 may show moderation, supporting disinflation narratives.
Fed Governor Bowman's speech at 12:00 could clarify views on rate cut timing, given the cutting cycle's emphasis on data dependence.
