🌅 Pre-Market Macro

**Fed:** No FOMC decision today; the next key Fed event is the **June 16–17 FOMC meeting**. The Fed calendar also shows a **Barr speech** today, but no rate announcement.

**Rates watch:** Markets still see the Fed as **holding rates** at the June meeting, with only a minority chance of a cut priced in.

**Data:** The big U.S. data hit comes **tomorrow**, not today: **April MSA Employment** and the **Beige Book Update** are scheduled for June 3.

**Overnight news:** No major overnight corporate or macro shock is in the provided results; traders are mostly waiting for the Fed and this week’s labor data.

**Session focus:** Expect trade to center on **rate-cut timing**, **bond yields**, and **tech growth stocks** most sensitive to Fed expectations.

**Fed:** No FOMC decision or Powell press conference today; the next FOMC meeting is **June 16–17**, and the Fed is in blackout ahead of it.

**Fed:** No major Fed speech is listed for today on the Fed calendar; the first notable June Fed event shown is **June 3**.

**Data:** No big U.S. economic release is scheduled for today on the Fed calendar; key near-term data starts with **June 3–4** items.

**Overnight:** No major overnight U.S. market-moving news was included in the provided results, so traders should focus on rates, yields, and any fresh headlines before the open.

**Watch:** Market odds still lean to a **hold** at the June meeting, with roughly **36%** odds of a 25 bp cut cited in market pricing.

**Fed:** no FOMC decision today; the next meeting is **June 16–17**, and the Fed is in its blackout period from **June 6–18**.

**Fed speakers:** no major Fed speaker is on today’s official Fed calendar.

**Data:** no key Fed daily/weekly statistical release is scheduled for today; the Fed notes today’s daily and weekly releases are pushed to **June 22**.

**Near-term data to watch:** **April MSA Employment** and a **Beige Book Update** come tomorrow, both from the Philadelphia Fed calendar.

**Overnight news:** I do not have reliable overnight market-news results in the provided search; the only notable listed item is a **Fed Services industry event** with Nikkia Young speaking today.

**Fed:** No FOMC decision, press conference, or minutes are scheduled for today; the next big Fed event is the **June 16–17 FOMC meeting**.

**Fed speakers/data:** I do not see a Fed speaker or major Fed release on today’s Fed calendar that should move stocks intraday.

**Economic data:** No major U.S. macro release is listed for today on the Fed calendar; the next notable release on these results is **April MSA Employment on June 3** and **Beige Book Update on June 4**.

**Overnight news:** Fed-watch pricing in the results shows markets leaning to **no June rate change**, with only about **36% odds of a 25 bps cut**.

**Overnight news:** The main near-term market catalyst is still **CPI on June 10**, which could shift rate expectations if it surprises.

**Fed:** No FOMC meeting, press conference, or rate decision today; the next Fed meeting is **June 16-17**.

**Fed speakers/data:** The Fed calendar shows **no major Fed event or release today** that moves the market.

**Economic data:** The Fed’s June calendar shows the **daily/weekly statistical releases are not scheduled for today**; the next notable Fed-linked release is **June 3**.

**Overnight news:** Market odds still show the **June Fed meeting leaning to a hold**, with only a minority chance of a cut.

**What traders focus on:** The next real catalyst is **May CPI on June 10**, which can shift Fed-cut odds fast.

**Fed:** No FOMC decision today; the next Fed meeting is **June 16–17**. Fed calendar also shows a **Barr speech** today, but no policy announcement.

**Data:** The Fed calendar does **not** show major national data releases today; the next notable Fed item is **G.19 Consumer Credit** later this month.

**Overnight:** Markets are still pricing the June Fed meeting as a **hold**, with only about a **36%** chance of a 25 bp cut.

**Overnight:** Fed messaging has stayed cautious, with officials stressing **inflation and data** over politics, which keeps rate-cut hopes in check.

**Watch list:** Biggest near-term market risk is the **June 16–17 FOMC** and any surprise in incoming inflation or labor data before then.

**Fed:** No FOMC decision today; next meeting is **June 16–17**. Today’s only Fed item in the calendar is **Governor Michael S. Barr** speaking at **12:00 p.m.**

**Fed ops:** New York Fed runs a **small Treasury sale test** around **9:00–9:20 a.m. ET**; market impact should be limited, but it is worth noting for desk flow.

**Data:** The Fed calendar shows **no major scheduled U.S. economic releases today**; the next notable Fed-linked data item on that page is **SCOOS on June 25**.

**Near-term data to watch:** Philadelphia Fed lists **April MSA Employment** for **June 3** and a **Beige Book update** for **June 3**.

**Overnight news:** Market talk remains focused on a **hold at the June Fed meeting**, with only a minority seeing a cut; Brookings is also hosting a **Powell retrospective** this morning, keeping Fed policy in focus.

**Fed:** No FOMC meeting or rate decision today; next FOMC is **June 16–17**, and the Fed is in the **blackout period from June 6–18**, so official Fed speeches should dry up soon.

**Data:** **No major Fed data release today** in the results; the next notable Fed-linked release is the **April MSA Employment** update on **June 3**.

**Watch tomorrow:** The Philadelphia Fed lists **April MSA Employment** and a **Beige Book update** for **June 3**.

**Overnight news:** I found **no major market-moving overnight headlines** in the provided results.

**Event flow:** Fed Services has a **June 2 industry event** with Fed participation, but it is not a market-moving policy event.

**Fed:** No FOMC meeting, rate decision, or Fed chair press conference is scheduled for today; the next FOMC meeting is June 16–17.

**Fed speakers:** No major Fed speaker is listed for today in the Fed June calendar.

**Economic data:** No major U.S. economic release is scheduled for today on the Fed calendar.

**Watch tomorrow:** Philadelphia Fed lists **April MSA Employment** and a **Beige Book Update** for June 3, which can move markets after today’s close.

**Overnight news:** I do not have a reliable overnight-news feed in the provided results, so I can’t verify major market-moving headlines from the last 12 hours.

**Fed:** No FOMC meeting, statement, or Powell presser today; the next rate-setting meeting is **June 16–17**.

**Fed speakers:** The Fed calendar shows **no major Fed speaker event today** in the June schedule.

**Economic data:** **No major Fed statistical release** is scheduled for today; the Fed notes the daily/weekly statistical releases due today were moved to **June 22**.

**Market focus:** With no big Fed/data event, traders will likely trade **overnight headlines and rates moves** more than a fresh macro catalyst.

**Major overnight news:** No specific overnight market-moving headline is provided in the search results, so there is **no verified major overnight story** to flag from these sources.

**Fed:** No FOMC meeting, press conference, or major Fed speech is scheduled **today** on the Fed June calendar.

**Fed data:** The main Fed release is **G.5 Foreign Exchange Rates** at **4:15 p.m. ET**; **H.4.1 Factors Affecting Reserve Balances** follows at **4:30 p.m. ET**.

**Today’s macro data:** I do not see any major U.S. economic report due **today** in the provided schedules.

**Overnight news to watch:** No major overnight market-moving item is included in the provided sources, so traders should watch for **tariff, trade, or geopolitical headlines** that can move futures before the open.

**Calendar note:** The next major Fed event is the **June 16–17 FOMC meeting**.