EQUITY TECHS: E-MINI S&P: (Z5) Pullback Appears Corrective For Now

• +30,000 Wednesday weekly FV 110/110.25 call spds, 3.5 vs. 109-27.25/0.22%

• US Cash Opening Calls: $SPX: 6,618.0 (+0.2%); $DJIA: 45,871 (+0.2%/+113pts); $NDX: 24,305.0.

NVIDIA is down 1.34% pre Open, and some focus on the Stock following earlier China headlines.

OIS meeting-dated pricing sees around 98% implied probability of a 25bp cut by the BOC at today's announcement (0945ET). Beyond that there's a second cut fully priced by the January meeting. See table below.

• We'll provide our Instant Answers and a comparison of the rate announcement statement vs July's. Recall that the press conference will start at 1030ET.

BOC Links (will go live at 0945ET):

• Rate announcement
• Press conference opening statement

MNI's Instant Answers for the BOC decision focus on any signals on future rate moves sent from the 0945ET release. They are:

• Target for overnight rate:
• Does the Bank say the case for further rate reductions is strong?
• Does the Bank reiterate it could LOWER rates if the economy weakens and inflation is contained?
• Does the Bank mention core inflation has been elevated?
• Does the Bank say growth or job market prospects have weakened?
• Does the Bank say it may be less forward looking with policy?