US stock index futures edged lower at the start of an action packed week including the Fed decision, trade talks, and the US jobs report. With the market fully pricing in a quarter basis point rate cut which will mark the first rate cut since 2008, investors will carefully parse Fed Chair Powell’s post-meeting press conference on Wednesday to gauge the trajectory of interest rates as gradual policy easing may begin. Meanwhile, negotiators from the US and China will begin two days of talks tomorrow, picking up where they left off three months ago. However, neither side has signaled much hope for a breakthrough this time. In corporate news, generic drug maker Mylan NV and Pfizer gained in premarket after the announcement of their plans for a merger. Corporate earnings season also continues with Apple, Rio Tinto, Toyota, and BMW scheduled to post their results this week. Elsewhere, WTI crude slightly gained, trading above $56 a barrel this morning.
Dallas Fed Manufacturing Activity index in July printed -6.30 following -12.10 in prior vs. -6.00 consensus. Later today, the US Treasury is scheduled to auction off $36 billion of 3-month bills and $36 billion of 6-month bills at 8:30 AM (PT).
This information is provided solely for informational use and is not intended as an advice for trading or investment purposes in any manner whatsoever. Sun West Mortgage Company, Inc. is not a licensed or registered broker or dealer and cannot provide investment strategies or recommendations. This information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice.
US stock index futures edged lower at the start of an action packed week including the Fed decision, trade talks, and the US jobs report. With the market fully pricing in a quarter basis point rate cut which will mark the first rate cut since 2008, investors will carefully parse Fed Chair Powell’s post-meeting press conference on Wednesday to gauge the trajectory of interest rates as gradual policy easing may begin. Meanwhile, negotiators from the US and China will begin two days of talks tomorrow, picking up where they left off three months ago. However, neither side has signaled much hope for a breakthrough this time. In corporate news, generic drug maker Mylan NV and Pfizer gained in premarket after the announcement of their plans for a merger. Corporate earnings season also continues with Apple, Rio Tinto, Toyota, and BMW scheduled to post their results this week. Elsewhere, WTI crude slightly gained, trading above $56 a barrel this morning.
Dallas Fed Manufacturing Activity index in July printed -6.30 following -12.10 in prior vs. -6.00 consensus. Later today, the US Treasury is scheduled to auction off $36 billion of 3-month bills and $36 billion of 6-month bills at 8:30 AM (PT).
The curve has bull-flattened with UST 10-Year yield down 1.57 bps.