New ETFs for Your Watchlist (June Update)

What’s in Today’s Report:

• New ETFs for Your Watchlist – June Update
• Powell Testimony Takeaways
• Chart – Consumer Confidence Tumbles (Again)

Futures are flat as investors digest reports that the U.S. strikes on Iran nuclear facilities resulted in limited damage while focus remains on Powell’s semi-annual testimony.

There were no noteworthy economic reports overnight and financial news wires were mostly quiet since yesterday’s close.

Today, there is one economic report to watch with New Home Sales (E: 694K) due out just after the bell. Housing data has been trending weaker but that has bolstered dovish money flows so a “hot” print could spark a hawkish reaction and weigh on stocks.

Fed Chair Powell’s semi-annual Congressional testimony continues today at 10:00 a.m. ET which will be a primary focus for markets as investors look for clues as to when the FOMC will resume cutting interest rates.

Moving into the afternoon, there is a 5-Yr Treasury Note auction at 1:00 p.m. ET. Demand has been strong in recent weeks so a weak outcome that sends rates higher is a hawkish risk to watch for that would weigh on risk assets.

Finally, there are a few more late-season earnings reports to watch including PAYX ($1.18), GIS ($0.71), MU ($1.61), and JEF ($0.43).

Sevens Report Q2 ’25 Quarterly Letter Coming Next Tuesday

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We will be releasing the Q2 2025 Sevens Report Quarterly Letter to subscribers next Tuesday, July 1. 

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You can view our Q1 ’25 Quarterly Letter here.

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