New Market Tailwind: Falling Rate Hike Fears
What’s in Today’s Report:
- New Market Tailwind: Falling Rate Hike Fears
Futures are slightly higher as markets await confirmation of a U.S./Iran ceasefire agreement while tech earnings continued to be very, very strong.
There was no update on the U.S./Iran ceasefire agreement overnight but numerous reports state a deal has been struck and is awaiting President Trump’s approval.
On earnings, DELL is the latest AI linked tech company to post blow out results and the stock is up 35% pre-open.
Today focus will remain on geopolitics and specifically confirmation from Trump of the ceasefire agreement. The deal is mostly priced into markets so confirmation shouldn’t cause a big rally, although if the deal is rejected it will be a modest negative.
Away from geopolitics, the only key economic report today is the Chicago PMI (E: 51.2) and barring a major surprise it shouldn’t move markets. There are numerous Fed speakers, however, including Bowman (9:10 a.m. ET), Paulson (9:15 a.m. ET) and Daly (12:40 p.m. ET) and if they are hawkish it could put a mild headwind on stocks.