3 Market Headwinds, 3 Indicators to Watch
What’s in Today’s Report:
- Three Market Problems, Three Indicators to Watch
- Weekly Market Preview: De-escalation or Not?
- Weekly Economic Cheat Sheet: FOMC Decision the Key Event
Futures are modestly higher after several tankers transited the Strait of Hormuz over the weekend, raising hopes the key oil route could reopen.
Rhetoric from both sides continues to downplay the chances of near-term negotiations while reports say the U.S. may form a coalition to escort ships through the Strait.
There were no notable economic reports overnight.
Today focus will be on Empire Manufacturing, Industrial Production (E: 0.1%), and the NAHB Housing Market Index (E: 37). Markets will want to see stable growth data as investors monitor oil prices.
Beyond the data, the Treasury will auction 3 & 6-Month Bills at 11:30 a.m. ET while earnings today include DLTR ($2.53) and BEKE ($0.07).