Could Earnings Be More Important than War This Week?

What’s in Today’s Report:

• Could Earnings Be More Important than War This Week?
• Weekly Market Preview: Will Earnings Be Strong Enough to Offset any Geopolitical Disappointment?
• Weekly Economic Cheat Sheet: Fed Decision on Wednesday (Will They Still Point to Rate Cuts?)

Futures are little changed despite no ceasefire meeting between the U.S. and Iran over the weekend.

There were no additional ceasefire talks over the weekend but markets still view the ceasefire process as ongoing, so the “no meeting news” isn’t hitting stocks.

Economically, the only notable report was German Gfk Consumer Climate and it missed estimates (-33 vs. (E) -30).

This week could be very important for the rally as we have critical earnings, a Fed decision on Wednesday and potential progress on the reopening of the Strait of Hormuz all looming. But, the week starts quietly as there are no notable economic reports today, so any U.S./Iran ceasefire deal headlines should continue to drive markets.

On earnings, this is the most important week of the reporting season (especially Thursday) and some results we’re watching today include: VZ ($1.22), DPZ ($4.29), CLS ($1.98), NUE ($2.79) and UHS ($5.29).