Day Traders Diary
Stocks look ready to take a breather this morning following four straight record-setting sessions on Wall Street. Futures are pointing towards a modestly lower open, with the S&P 500 futures trading five points, or 0.2%, below fair value. The tech-heavy Nasdaq 100 futures are also down 0.2%.
Investors will receive some notable economic data this morning. The July reading of the core PCE Price Index (Briefing.com consensus +0.2%), which is the Fed's preferred gauge of inflation, will cross the wires at 8:30 AM ET, along with July Personal Income (Briefing.com consensus +0.4%), July Personal Spending (Briefing.com consensus +0.4%), and weekly Initial Claims (Briefing.com consensus 214K).
In Washington, NAFTA negotiations remain in focus as the U.S. and Mexico try to bring Canada onto the bilateral trade deal they reached on Monday. Although there are reportedly a number of tricky issues still to work through, both President Trump and Canadian Prime Minister Justin Trudeau expressed optimism on Wednesday that a deal could get done by the end of the week.
Looking at other markets, U.S. Treasuries are roughly flat this morning, with the yield on the benchmark 10-yr note unchanged at 2.88%. The U.S. Dollar Index is up 0.1% at 94.55, trying to end a four-session slide that took the index to a one-month low on Wednesday, and WTI crude futures are up 0.7% at $69.96/bbl.
In U.S. corporate news:
Reviewing overnight developments:
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