Can the Rally Keep Going?
What’s in Today’s Report:
- Can the Rally Keep Going?
- Weekly Market Preview: Does the Fed Signal a June Rate Cut? (And What Does Trump Do If Not?)
- Weekly Economic Cheat Sheet: More Signs of Slowing Growth?
Futures are moderately lower on digestion of Friday’s rally and following more tariff threats from President Trump.
President Trump threatened 100% tariffs on movies made outside the U.S., reminding investors that tariff risks remain elevated.
Oil prices are down 1% after OPEC+ increased output by 411k bbls/day starting in July (Saudi Arabia is trying to increase market share and that’s driving oil prices lower).
Today focus will be on the ISM Services PMI (E: 50.2) and if that number drops solidly below 50, we will see economic anxiety rise (the stronger this number, the better).
Earnings season is practically over but there are still some notable reports to watch, including: ON ($0.51) and PLTR ($0.08).