Jobs Report Preview (Will It Decide Rate Cuts?)
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What’s in Today’s Report:
- Jobs Report Preview (Will It Decide Rate Cuts?)
Futures are moderately lower following disappointing earnings from MSFT and META overnight.
META and MSFT are both lower by around 3% following disappointing earnings results (META) and guidance (MSFT) and that’s weighing on futures.
Economically, EU inflation was a bit hotter than expected as EU HICP (their CPI) rose 2.7% y/y vs. (E) 2.6% y/y.
Today will be a busy day of economic data and earnings. On the economy, the two key reports are Jobless Claims (E: 235K) and the Core PCE Price Index (E: 0.3% m/m, 2.6% y/y) and markets will want in-line readings on both to reinforce recent Goldilocks growth and inflation data.
On earnings, there are three major reports after the close: AAPL ($1.49), AMZN ($1.14) and INTC ($-0.02).
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