Technical Take: Important Levels to Watch
What’s in Today’s Report:
- Technical Take: Important Levels to Watch
Futures are mixed despite strong tech earnings and a three-week extension of the Israel/Lebanon ceasefire.
Intel (INTC) surged 26% pre-market on blow out earnings and guidance and that’s helping to support futures.
Geopolitically, Israel and Lebanon extended the ceasefire but there was no more information on when the next U.S./Iran face to face talks will occur.
Today there is one economic report, Consumer Sentiment (E: 48.0) and some notable earnings, PG ($1.56), CHTR ($9.97), NSC ($2.51), HCA ($7.19), but geopolitics will remain the primary driver of markets.
To that point, while the Israel/Lebanon ceasefire is a positive, the market still only cares about the Strait of Hormuz reopening and because of that, when the next U.S./Iran talks occur will be the biggest potential catalyst today and the sooner, the better for markets.