Market Multiple Update

What’s in Today’s Report:

• Market Multiple Table – June Update
• ISM Manufacturing Index Takeaways

Futures are solidly higher today, rising with international markets thanks to easing geopolitical tensions offsetting COVID-19 worries and historic civil unrest in the U.S.

Chinese firms reportedly purchased multiple shipments of U.S. soybeans on Monday, contradicting earlier headlines that the government had broadly halted ag orders. The positive trade activity is acting as a tentative tailwind this morning.

There were no economic reports overnight but oil prices are up nearly 3% as OPEC+ (including Russia) is expected to extend current policy and output cuts beyond June.

Today, Motor Vehicle Sales (E: 10.0M) is the only economic data due to be released while there are no Fed officials scheduled to speak. That will leave investors largely focused on the simmering trade tensions between the U.S. and China as well as the ongoing, in some cases violent, protests across much of the U.S.