The US government shutdown continues but we macroeconomic nerds get some real market-moving news to digest. The Bank of Canada decision at 9:45 am kicks it off, followed by a press conference 45 minutes later. I wrote a preview here.
There is some lower tier data with US pending home sales from the National Association of Realtors at 10 am ET and the EIA weekly US oil storage numbers at 10:30 am ET.
The main event of the day comes at 2 pm ET with the FOMC decision. A rate cut is fully priced in but Powell could push back on the 90% pricing for a December cut, especially given runaway equity markets.
Then we get into major tech earnings after the bell with:
- Microsoft
- Alphabet
- Meta
