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Welcome to Wednesday.
Yesterday’s trading was surprisingly volatile given the lack of news on the calendar so I wouldn’t rule anything out today. That said, there once again won’t be much to digest today.
In terms of data, there’s nothing from there US but we do get the FOMC minutes at 2 pm ET. I’ve never seen much value in the minutes and I’ve seen confusing signals sent many times. Newswires often cherrypick headlines and the short snaps can get the context wrong. Given that markets and the Fed are roughly aligned on three rate cuts this year, I don’t see a big scope for moves.
Before that, we get a 20-year Treasury auction and comments from the Fed’s Bowman, both at 1 pm.
For Europe, the February eurozone consumer confidence data is due at 10 am.
Of course, the highlight of the day comes after the close with NVDA set to report earnings.
