What Would Make Markets Care About the Israel-Iran Conflict?
What’s in Today’s Report:
- What Would Make Markets Care About the Israel-Iran Conflict?
- June Flash PMI Takeaways
U.S. equity futures are tracking global shares higher after President Trump announced a ceasefire between Israel and Iran, greatly reducing geopolitical worries.
Economically, the Business Expectations component of the German Ifo Survey rose to 90.7 vs. (E) 89.8 in June which is adding to optimism that a recession will be avoided in most developed nations in 2025.
Looking into today’s session, there are multiple economic reports due to be released including the Case-Shiller Home Price Index (E: 4.0%), FHFA House Price Index (E: 0.1%), Consumer Confidence (E: 99.0), and Richmond Fed Manufacturing Index (E: -7.0).
There are also multiple Fed speakers on the calendar to watch with Hammack (9:15 & 10:15 a.m. ET), Powell (10:00 a.m. ET), Williams (12:30 p.m. ET), and Collins (2:05 p.m. ET) all due to deliver remarks today.
Finally, some noteworthy earnings releases to keep an eye on include CCL ($0.24), SNX ($2.56), FDX ($5.93), and BB ($0.00).
Bottom line, the two most important catalysts to watch today will be the Consumer Confidence release with investors looking for a healthy/better than expected headline and easing inflation expectations, and Powell’s Humphrey-Hawkins testimony on Capitol Hill as investors gauge the prospects for a July rate cut (the more dovish expectations are, the better for stocks).
