Why the NFIB Small Business Survey Matters to You
What’s in Today’s Report:
- Why the NFIB Matters to You and Your Clients
- PPI Takeaways – More Evidence Inflation Will Prove to Be “Transitory”
- Jobless Claims Extend Steady Rise off of 2026 Lows
U.S. equity futures are extending yesterday’s broad market rebound with small caps leading as bond yields continue to retreat with oil trading near ~2 month lows with optimism for an imminent U.S.-Iran peace deal continuing to build.
Economically, German CPI was unchanged in May at -0.2% m/m and +2.6% y/y, meeting consensus estimates and further supporting a rise in global bonds (yields retreating).
Looking into today’s session, there are no Fed officials scheduled to speak as the FOMC remains in their “blackout period” ahead of next week’s policy meeting which will leaving traders primarily focused on geopolitical headlines with markets sensitive to any material moves in the oil market and/or bond yields.
There is one potential catalyst due out shortly after the open with the preliminary release of the June Consumer Sentiment report (E: 46.1, Year-Ahead Inflation Expectations: 4.8%) which has a history of impacting broader inflation expectations and therefore could move yields (and potentially roil equities if the print is “hot”).
Finally, there are no noteworthy earnings releases today which will leave geopolitical news in keen focus leading into the weekend.
