| Prior Close | ||
|---|---|---|
| Asset | Level | Days Change |
| S&P 500 | 6,946.60 | -0.09% |
| Nasdaq | 23,515.39 | -0.06% |
| Spot VIX | 19.29 | +21.63% |
| 2 Year Bond Yield | 3.59 | +2 bps |
| 10 Year Bond Yield | 4.23 | +5 bps |
| EUR/USD | 1.1622 | +0.19% |
| USD/JPY | 157.99 | -0.06% |
| GBP/USD | 1.341 | +0.19% |
| WTI Oil | 59.19 | -4.56% |
| Gold | 4,665.64 | +1.54% |
| Bitcoin | 93,051.19 | -0.62% |
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
| Data | Prior | Cons | Time |
|---|---|---|---|
| ADP Employment Change Weekly | 11,750 | - | 08:15 |
| API Weekly Crude Oil Stocks | 5.3m | - | 16:30 |
ADP employment change came in at 11,750, beating the consensus estimate, indicating continued strength in the labor market despite ongoing rate cuts.
API weekly crude oil stocks data showed a draw of 5.27M barrels, aligning with expectations and supporting steady oil prices around $59.
Markets traded calmly overall, with the S&P 500 dipping 0.1% to 6946.60 and Nasdaq down 0.1% to 23515.39, as investors digested mixed economic signals.
Bond yields rose modestly, with the 2-year up to 3.59% and 10-year to 4.23%, amid Fed chair speculation.
The USD firmed against the euro at 1.1622 and yen at 157.99, while gold climbed to 4665.64 and Bitcoin held at 93051.19.
No major Fed speeches yesterday, but prior comments reinforced data-dependent easing. (cont...)
CPI data at 8:30am is expected at 0.2% m/m, with consensus at 0.2%, closely watched for inflation trends.
Fed Chair Powell speaks at 2pm, potentially clarifying the pace of rate cuts amid labor resilience.
API weekly crude oil stocks at 4:30pm may show further draws, influencing energy markets.
Canada's tariff reductions with China signal shifting trade dynamics, potentially easing global supply chain pressures.
Tech ad revenue expansions, like OpenAI's, highlight AI monetization trends amid profit concerns.
Venezuela's oil reserves under US scrutiny could boost crude supplies but heighten geopolitical risks.
In the rate-cutting cycle, resilient ADP data supports fewer cuts in 2025, tilting hawkish on pace.
Powell may emphasize data dependence, favoring slower easing over faster reductions.
Markets pricing in fewer cuts reflect confidence in economic stability, though inflation monitoring keeps cuts on the table.