A Unique ETF Focused on Managing Tax Liabilities
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What’s in Today’s Report:
- A Unique ETF Focused on Managing Tax Liabilities
- JOLTS Data Takeaways – Another Goldilocks Report
Futures are higher with tech shares leading thanks to solid earnings reports after the close yesterday as investors look past political turmoil overseas.
Politically, lawmakers in South Korea moved to impeach President Yoon for implementing martial law yesterday while the French government faces a no-confidence vote today. Neither situation is a material negative for markets but both are weighing on sentiment.
In corporate news, CRM and OKTA (a newer cloud software focused company) both posted solid earnings after the close yesterday which is bolstering the broader tech sector in premarket trade today.
Today, we will get two more important economic reports: The ADP Report (E: 165K) and the ISM Services PMI (E: 55.5). Factory Orders (E: 0.4%) will also be released but is less likely to move markets than the first two data points.
The Fed’s Musalem is scheduled to speak at 8:45 a.m. ET, however the market’s main focus today will be Powell’s commentary (1:45 p.m. ET) as he could shed light on December rate cut plans or the policy rate path in 2025. Any hawkish surprise from the Fed Chair could spur volatility today.
Finally there is one notable earning release today from discount retailer DLTR ($1.07) that could offer insight into consumer spending habits.
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