As traders approach another pivotal day for financial markets, a series of crucial decisions and economic data releases that could sway market dynamics are expected on Wednesday, October 9, 2024. The spotlight will be on the Federal Open Market Committee (FOMC) meeting minutes and the Energy Information Administration's (EIA) crude oil inventories report, both of which have the potential to significantly impact market sentiment and asset prices.
Major Economic Events to Watch:
• 10:30 AM ET - EIA Crude Oil Inventories: Expected 1.900M, previous 3.889M. This weekly report measures changes in commercial crude oil stocks held by U.S. firms, influencing petroleum prices and inflation.
• 2:00 PM ET - FOMC Meeting Minutes: Detailed record of the committee's policy-setting meeting, offering insights into the Federal Reserve's stance on monetary policy.
Other Important Economic Events to Watch:
• 8:00 AM ET - FOMC Member Bostic Speaks: Atlanta Fed President Raphael Bostic's public engagement may provide clues about future monetary policy.
• 10:30 AM ET - Fed Goolsbee Speaks: Federal Reserve official's remarks may offer insights into economic outlook.
• 10:30 AM ET - EIA Weekly Cushing Oil Inventories: Previous 0.840M. Measures crude oil storage levels at the key delivery point for U.S. oil benchmark.
• 11:00 AM ET - FOMC Member Williams Speaks: New York Fed President's comments may influence market expectations.
• 12:00 PM ET - Atlanta Fed GDPNow: Forecast 3.2%, previous 3.2%. Provides a running estimate of real GDP growth for the current quarter.
• 1:00 PM ET - 10-Year Note Auction: Previous yield 3.648%. Indicator of government debt situation and investor sentiment.
• 6:00 PM ET - FOMC Member Daly Speaks: San Francisco Fed President's remarks may offer policy insights.
Other Economic Events to Watch:
• 7:00 AM ET - MBA 30-Year Mortgage Rate: Previous 6.14%. Indicates fixed mortgage lending rates.
• 7:00 AM ET - MBA Mortgage Applications: Previous -1.3%. Measures change in new mortgage application volume.
• 7:00 AM ET - MBA Purchase Index: Previous 149.3. Indicator of impending home sales.
• 7:00 AM ET - Mortgage Market Index: Previous 292.3. Covers all mortgage applications during the week.
• 7:00 AM ET - Mortgage Refinance Index: Previous 1,099.5. Gauge of mortgage refinancing activity.
• 9:15 AM ET - Fed Logan Speaks: Dallas Fed President's comments may provide economic insights.
• 10:00 AM ET - Wholesale Trade Sales: Previous 1.1%. Measures change in total value of sales at wholesale level.
• 10:00 AM ET - Wholesale Inventories: Forecast 0.2%, previous 0.2%. Indicates change in total value of goods held by wholesalers.
• 10:30 AM ET - Gasoline Inventories: Forecast -1.500M, previous 1.119M. Measures change in commercial gasoline inventory levels.
• 10:30 AM ET - Various EIA Weekly Reports: Including refinery crude runs, crude imports, distillates stocks, heating oil stock, refinery utilization rates, gasoline production, and distillate fuel production.
• 10:30 AM ET - FOMC Member Barkin Speaks: Richmond Fed President's remarks may offer policy insights.
• 10:45 AM ET - Fed Logan Speaks: Additional comments from Dallas Fed President.
• 11:00 AM ET - Thomson Reuters (NYSE:TRI) IPSOS PCSI: Previous 55.02. Composite index of consumer sentiment.
• 12:15 PM ET - FOMC Member Barkin Speaks: Additional remarks from Richmond Fed President.
• 12:30 PM ET - Fed Governor Jefferson Speaks: Federal Reserve official's comments may influence market expectations.
• 5:00 PM ET - Fed Collins Speaks: Boston Fed President's remarks may provide economic insights.
For further information and the latest updates, please refer to our Economic Calendar, here.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.