Initial jobless claims coming up next
Justin is done for today and that means me and Greg will be taking over for North American trading. Whether the US election transfer of power goes as smoothly is one of the reasons that equity futures and commodity currencies are lower so far today.
I don't know how much bad news this market will be able to swallow in the near term so today's jobless claims data is key. The consensus is 840K, down slightly from 860K last week. Continuing and PUA claims will also be a factor.
The other data point to watch is at 10 am ET when new home sales for August are released. 890K is the consensus.
There were 9 Fed speakers yesterday and the cacophony continues today with (all times ET):
- 8:50am: Kaplan
- 10am: Powell, Mnuchin
- 12pm: Bullard
- 1pm: Evans
- 1pm: Barkin
- 2pm: Barkin
- 2pm: Williams
- 2pm: Bostic
