US traders might head out early for a long weekend but we still have some work to do before then.
The preliminary UMich consumer sentiment survey is due at the top of the hour with the consensus showing a rise to 80.0 from 79.0. I don’t have any use for this report but it will move the market, particularly given yesterday’s weak retail sales.
A pair of Fed officials are also still to come. The Fed’s Bostic will be on CNBC at 11 am — though not that 11 am usually means sometime in the 11 am hour. Then at 12:10 pm ET, the Fed’s Daly speaks on “Navigating Geopolitical Turbulence and Domestic Uncertainty”; I expect a text release.
In terms of what to expect, Bostic is a hawk so he could push hard on keeping rates higher for longer. Daly is a dove and the message from that segment seems to be that the CPI number delays the Fed’s needed confidence to cut rates. She also has a well-earned reputation as Powell’s mouthpiece.