Morning Express | 04-14-23 |
Posted: April 14, 2023, 7:49 a.m.
- March Retail Sales report is due at 7:30 am CT. Expectations are for:
- Core at -0.3% m/m, down from -0.1%
- Headline at -0.4% m/m, unchanged
- Import/Export Price Index is also due at 7:30 am CT, followed by Industrial Production at 8:15 am CT.
- Fresh Michigan Consumer data at 9:00 am CT. Michigan data includes 1-year and 5-year inflation expectations. Remember, the Fed looks to inflation expectations as a self-fulfilling prophecy.
- Fed Governor Waller is expected to speak at 7:45 am CT. Chicago Fed President Goolsbee, a 2023 voter, is also due this morning.
- Earnings season is underway, JPM is +5% after beating top and bottom estimates. There is a lot to unpack within today’s bank earnings – DO NOT miss today’s CNBC Halftime Report. WFC, C, PNC, and BLK also reported, as did UNH.
- Boeing -6% after halting deliveries of some 737s, drags the Dow.
- The CME's FedWatch Tool shows a 69.5% probability the Fed hikes 25bps at the May 3rd meeting. Will this be the December 2018 token hike?
E-mini S&P (June) / E-mini NQ (June)
S&P, yesterday’s close: Settled at 4172.75, up 53.75
NQ, yesterday’s close: Settled at 13,209.75, up 257.50
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Crude Oil (May)
Yesterday’s close: Settled at 82.16, down 1.10
- IEA Monthly Report
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Gold (June) / Silver (May)
Gold, yesterday’s close: Settled at 2055.3, up 30.4
Silver, yesterday’s close: Settled at 25.925, up 0.467
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Silver (May)
Resistance: 26.15***, 26.50***, 26.89**, 27.39-27.50***
Support: 25.68-25.82***, 25.40-24.45*, 24.95-25.23***
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