The Week Ahead: CPI, FOMC +Futures Trading Levels for 12.12.23
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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The Week Ahead: Index rollover week, CPI, PPI, FED Rate announcement, Fed speech, Earnings.
By John Thorpe, Senior Broker
This week could get wild in a number of markets, stay focused and manage the risk.
You should already be trading the March Indices if you are trading them at all, ask your broker how to roll if you need assistance.
Tuesday morning the telling CPI number will be released early, 7:30 am CST.
Past volatility in index markets as a result of earnings will take a back seat to much anticipated economic numbers this week. We will have a few earnings releases after the close but the highlights for the indices, bonds, crypto, metals and yes even the energy complex may hinge on the CPI and PPI numbers in addition to the somewhat surprising Non Farm Payroll numbers on Friday that reflected uncommon and persistent strength in the wake of the longest string of interest rate increases in 40 years.
PPI Wednesday 7:30 am CST
Any deviation from the consensus will move markets in unnatural ways. The same for the PPI on Wednesday morning and the FED voting members will have a clearer picture of their desires in March, something we will be listening for in the language Chairman Powell uses on Wednesday when he hosts his final for the year Q and A 30 minutes after the Rate decision is announced. That decision is expected to be a no rate change with the CME FedWatch tool weighing in today as a 98.4% probability for rates to remain untouched.
ADBE will be reporting Earnings after the close Wednesday and Costco after the close on Thursday.
Inventories, jobless claims retail sales all early Thursday morning and Friday, a few more data points to throw into the mix. Capacity utilization and Industrial production, all sectors that are dependent on the cost of money.
Plan your trade and trade your plan.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
Futures Trading Levels
*NOTE: if you like to get the March stock index levels (NQ, ES etc.), please reply back to this email and we will send you the levels for March tomorrow morning!
12-12-2023
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