FOMC Preview: All About December (and Beyond)

What’s in Today’s Report:

• FOMC Preview: All About December (and Beyond)

Futures are little changed following a quiet night of news as investors focus on the looming potential catalysts of tomorrow’s Fed meeting and hyperscaler earnings.

Economically, the only notable report overnight was Chinese Industrial Profits which met expectations (15.5%).

There was no notable AI or geopolitical news overnight.

Today focus will be on economic data and the key report is Durable Goods (E: 1.4%), as markets will want to see continued strong business investment (which is critical to the resilient economy).  We also get a lot of housing data via Case-Shiller Home Price Index (E: -0.1%), FHFA House Price Index (E: 0.2%) and New Home Sales (E: 651K).  Finally, Consumer Confidence (E: 80.4) will also be released this morning.  With the housing and Consumer Confidence data, the stronger, the better.

Earnings season also continues and the key report today is Visa (V: $3.43) as markets will want to see strong commentary on consumer spending.  Other notable reports include KO ($0.87), NVS ($2.25), BA ($-0.21) and WM ($2.18).