US EARLY MORNING: Futures rise in sympathy with European counterparts; Fed's Williams, JOLTs and consumer confidence ahead

US equity futures are firmer in pre-market trade, gaining a lift in sympathy with European counterparts, but US futures are yet to pare back the chunk of losses endured late last week as Fed Chair Powell showed no signs of relenting from the Fed’s hawkish course. The Nasdaq-100 is outperforming, perhaps getting a boost from Treasury yields, which are lower by 0-4bps, with much of the rally in the long-end, while major curve spreads are narrowing. Ahead of this week’s main events ­– ISM Thursday before payrolls on Friday – traders will be looking to comments from NY Fed President Williams (voter), due in the late US morning, as well as Fed’s 2024 voter Barkin; the message from both is likely to be a reiteration of what we have heard from other Fed officials lately, though we will be cognizant of any comments from Williams on the terminal rate, and the time he would expect the Fed to stay at terminal. Elsewhere, the Conference Board’s gauge of consumer confidence and the JOLTs report will be eyed. Full Day Ahead here.










30 Aug 2022 - 09:24- Research Sheet- Source: Newsquawk

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