Technical Levels to Watch Today and Jobs Report Preview
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What’s in Today’s Report:
- Technical Levels to Watch in the Wake of the Fed
- Jobs Report Preview
Futures are solidly higher in pre-market trade with tech and AI-focused names leading after solid AMD earnings (stock up 9%) offset mildly disappointing results from MSFT (stock down 3%) while economic data was solid overnight and investors digest the BOJ’s decision to raise rates to the highest level since 2008.
Today, focus will be on economic data early with the ADP Employment Report (E: 154K), Employment Cost Index (E: 1.0%), and Pending Home Sales (E: 1.1%) all due to be released. Healthy employment and steady wage growth numbers will be critical to see for the soft landing narrative to persist.
From there, focus will turn to the Fed with the FOMC Meeting Announcement at 2:00 p.m. ET followed by Fed Chair Powell’s Press Conference at 2:30 p.m. ET.
Earnings season also continues today with BA (-$1.68) and MA ($3.51) reporting before the open and META ($4.69), QCOM ($2.25), ALL ($0.33), and EBAY ($1.12) all due to release results after the close.
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