US EQUITY OPEN: Indices open in the green post cooler-than-expected PCE as MU numbers await

OPEN: US indices opened in the green following on from the gains seen in US equity futures after the cooler-than-expected US PCE report for August, and also extending on moves following dovish remarks from Fed's Williams on Tuesday. Regarding the softer-than-expected PCE report, there were downside risks given the BEA methodology change. Following this, initially, Treasuries and spot gold saw upside, while the Dollar Index saw pressure, with the former two giving back a decent chunk of their gains at the time of writing. In FX, G10 peers are predominantly firmer vs. the Greenback, with the Aussie the clear laggard after the soft Aussie CPI report. The crude complex sees gains of c. USD 2/bbl. Sectors are seeing a downward bias, with Real Estate and Health lagging, with Tech and Communication Services sitting atop of the pile. Ahead, Micron earnings after-hours await and could be the next catalyst for the space. Elsewhere on the US data front, ADP surged above expectations, while the advanced goods trade balance was a deeper deficit than Wall St. consensus and widened M/M. In the calendar ahead, there is once again a slew of Fed speak, including Barkin, Cook, Goolsbee, and Kashkari as well as the weekly EIA figures for the energy traders; the API weekly inventory figures reportedly showed headline crude stocks posting a surprise build of +1.0mln (exp. -1.1mln), Cushing stocks built by +0.2mln, gasoline saw a surprise build of +3.0mln (exp. -0.5mln), while distillate stocks saw a draw of -0.3mln (exp. +0.0mln). STOCK SPECIFICS: Concentrix (CNXC) revenue missed with next quarter guidance light as was FY revenue view Hewlett Packard Enterprise (HPE) secures first AMD Helios order in $1.2bln deal w/ Vultr FactSet (FDS) FY profit view underwhelmed Jacobs (J) to deploy data center digital twin for Nvidia's R&D facility in the US. Target (TGT) was upgraded at HSBC Moderna (MRNA) was downgraded at Citi Boeing (BA) wins USD 20bln+ F/A-XX contract Cal-Maine Foods (CALM) deeper loss per shr. than exp. & rev. missed