Fed Speak Deluge Ahead | Morning Express 10/20/2022

Posted: Oct. 20, 2022, 8:24 a.m.

Morning Express will not be published tomorrow, Friday, October 21.

 

Economic Calendar

  • Weekly Jobless Claims and Philly Fed Manufacturing due at 7:30 am CT. Existing Home Sales out at 9:00 am CT. Deluge of Fed speak to include Philadelphia Fed President Harker at 11:00 am CT, Fed Governors Jefferson and Cook at 12:30 pm CT, and Fed Governor Bowman at 1:05.
  • German PPI cooling from spike through August, came in at +2.3% for September from +7.9%, but still hotter than the +1.3% expected and 45.8% YoY vs 44.7%.

Earnings

  • TSLA missed on Revenues is -5% ahead of the bell.
  • DHR, PM, UNP, T, BX, and Dow all due before the open.
  • CSX, SIVB, SNAP and more after the bell

Fed Probabilities, CME FedWatch Tool

  • 3% probability for 75bps on November 2nd
  • 6% for another 75bps on December 14th
  • Odds are favoring only 25bps in February with a 50.3% probability, but 50bps emerging with 38.6%; the latter would set rates at 5.00%.

E-mini S&P (December) / NQ (December)

S&P, yesterday’s close: Settled at 3707.25, down 25.50

NQ, yesterday’s close: Settled at 11,153.25, down 45.50

 

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NQ (December)

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Crude Oil (December)

Yesterday’s close: Settled at 84.52, up 2.45

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Gold (December) / Silver (December)

Gold, yesterday’s close: Settled at 1634.2, down 21.6

Silver, yesterday’s closeSettled at 18.359, down 0.241

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Silver (December)

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