How to Talk to Clients About the Wars (From a Market Standpoint)

What’s in Today’s Report:

• How to Talk to Clients About the Wars (From a Market Standpoint)

Futures are moderately weaker as higher oil prices and rising global bond yields pressure stocks.

Global bond yields extended Monday’s gains overnight as the 10-year Japanese Government Bond yield hit 3.00% for the first time since 1996.

Economic data was solid as EU and UK manufacturing PMIs were in-line, while EU Core HICP (their CPI) beat estimates.

Focus today will remain on bond yields and the higher they go, the lower stocks will go.  The events that will influence yields today include 1) Any geopolitical headlines (any reports of ceasefire progress will pressure yields) and 2)  Economic data. Important reports today include the ISM Manufacturing PMI (E: 55.2) and JOLTS (E: 7.35 million) and the closer to in-line they are, the better for yields.  There is also one Fed speaker, Barr (9:05 a.m. ET), but he shouldn’t move markets.

Finally, on the earnings front we do get several important tech/AI earnings results after the close, including DELL ($4.72), PANW ($0.51) and MDB ($1.61).