US Market Open: Relatively contained trade ahead of key data, earnings & FOMC
Key Points:
European bourses are little changed overall but with a modest positive bias, Euro Stoxx 50 +0.2%, ahead of data points and the FOMC.
Stateside, futures are a touch softer after yesterday's strength, ES -0.4%, with an after-market update from Snap weighing on peersThe DXY is subdued and holding modestly below the 102.00 mark with slightly softer US yields vs global peers exerting pressure
EGBs are firmer but well off initial best levels, with Bunds below 137.00 after more than paring a knee-jerk spike on the EZ Flash CPI release, where once again the headline cooled but core remains hot.
Crude benchmarks have seen some modest two-way action throughout the morning, though the benchmarks are in relatively narrow ranges and near the unchanged mark overall.
Looking ahead, highlights include US Final Manufacturing PMI, US ADP, ISM Manufacturing, JOLTS, Construction Spending, FOMC Policy Announcement & Press Conference, OPEC+ JMMC, US Quarterly Refunding Announcement, Earnings from McKesson, AmerisourceBergen, Meta, T-Mobile, Thermo Fisher, & Altria.
