Why Yen Intervention Matters to Markets

What’s in Today’s Report:

• Why Yen Intervention Matters to Markets
• ISM Manufacturing PMI Takeaways – U.S. Factory Sector Growth Remains Strong

Futures are higher with tech leading as PLTR reported very strong quarterly earnings after the close yesterday with revenue surging 93% which is bolstering the long-AI trade and pushing S&P 500 futures towards record highs.

There were no market moving economic reports or noteworthy geopolitical news overnight leaving trader focus on looming U.S. labor market data and earnings.

Today, there are three economic reports to watch including Factory Orders (E: 0.4%), JOLTS (E: 7.35 million), and International Trade in Goods (E: $-73.0B). The main focus with be JOLTS as U.S. labor market resilience is becoming a key pillar supporting stocks in H2’26.

There are no Fed officials scheduled to speak today however the Treasury will hold a 6-Week and a 52-Week Bill auction at 11:30 a.m. ET. Treasuries roiled markets last week as yields surged on the long end, so if the auctions are weak, the results could prove to be an unexpected source of volatility today.

Turning to earnings, the quarterly reporting season continues today with CAT ($6.25), PFE ($0.68), MCD ($3.32), BP ($1.98), AMD ($1.35), SPCX ($-0.26), and ANET ($0.80) all due to release results, and the stronger the better for stocks.