Focus On Fed Speakers Today


Futures were higher yesterday due to the bullish September Automated Data Processing, Inc. employment report, which showed an increase of only  89,000 when up 150,000 was expected.

Prices are mixed today in advance of comments from several Federal Reserve officials today.

Federal Reserve speakers today are Loretta Mester at 8:00, Thomas Barkin at 10:30, Mary Daly at 11:00 and Michael Barr at 11:15.

Financial futures markets are predicting there is an 80% probability that the Federal Open Market Committee will keep its fed funds rate unchanged and a 20% probability of a 25 basis point increase at its November 1 policy meeting.


Stock index futures are lower.

Outplacement firm Challenger, Gray & Christmas said announced job cuts by U.S.-based employers in September declined approximately 37% from  August. However, cuts for last month still marked a 58% increase from September 2022. Third quarter cuts were up 92% from the third quarter 2022.

Jobless claims in the week ended September 30 were 207,000 when 210,000 were expected.


The U.S. dollar peaked on October 3 when there were reports that the Bank of Japan intervened in foreign exchange markets to support the yen by selling U.S. dollars and buying yen.

Sentiment among small and mid-sized businesses in Germany is back to near pandemic lows, according to a survey released today.  A study by Creditreform, which surveyed approximately  1,200 firms, showed morale slipped back into negative territory for the first time since 2020. The index fell to -1.2 points in 2023.


Interested in more futures markets?  Explore our Market Dashboards here.

Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.

ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.                  

A subsidiary of Archer Daniels Midland Company.

© 2024 ADM Investor Services International Limited.

Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

Latest News & Market Commentary

Explore the latest edition of The Ghost in the Machine

Explore Now