Is There a “Second Wave” Coming?

What’s in Today’s Report:

• Is There a Second Wave Coming? Let’s Look At the Data

Stock futures are rising with global equity markets amid positive developments on U.S.-China trade, rising hopes for a $1T infrastructure spending package in the U.S. and dovish details regarding the Fed’s bond-buying programs.

Economically, the German ZEW Survey for the month of June was better than expected helping lift EU shares.

Today, investors will be focused on economic data early with Retail Sales (E: 7.5%), Industrial Production (E: 2.9%), Business Inventories (E: -0.5%), and the Housing Market Index (E: 44.0) all due out before the open or shortly after the bell.

From there, attention will shift to Fed Chair Powell’s semiannual testimony before Congress which will begin at 10:00 a.m. ET as investors look for further clues regarding current stimulus programs and the Fed’s outlook for the economy in the coming quarters.