Examining the Most Important Headline This Week (It’ll Surprise You)

What’s in Today’s Report:

• Examining the Most Important Headline This Week (It’ll Surprise You)

Futures are slightly higher despite post earnings selling in AI linked tech stocks, as lower oil boosts futures.

CSCO earnings weren’t as good as hoped for and the stock is down 6% pre-market, although it’s not weighing on the rest of the market.

There was no discernable progress on U.S./Iran peace talks but oil dropped 1% overnight on falling fears of escalation.

Today focus will remain on inflation and the economy via PPI  (E: 0.2% m/m, 4.9% y/y) and Jobless Claims (E: 203K).  The lower PPI and the closer jobless claims are to 200k, the better for markets (it’d be a Goldilocks reading). We also have one Fed speaker today, Barkin (8:40 a.m. ET), but he shouldn’t move markets.

On earnings, tech results continue and today’s key report is AMAT ($3.38).