Two Major Market Risks
What’s in Today’s Report:
- What Could Go (Really) Wrong? Two Candidates
- Consumer Confidence Takeaways
U.S. equity futures are trading lower with most international markets while bond yields are falling amid growing concerns about the Delta variant of COVID-19.
The Stoxx 600 Travel and Leisure sector is down more than 5% WTD, underscoring market fears of new lockdowns or travel restrictions in Europe due to the Delta variant outbreak.
There was a slew of economic data from China to Europe released overnight however all of it largely met estimates and therefore is not materially moving markets this morning.
Today, focus will be on any new developments regarding the latest uptick in COVID-19 cases, fueled by the Delta variant, as well as the first look at the June jobs data via the ADP Employment Report (E: 533K) due out ahead of the bell.
There is also a report on Pending Home Sales (E: -1.0%) and two Fed speakers: Bostic (8:00 a.m. ET) and Barkin (1:00 p.m. ET), but unless there are any major surprises none of those should materially move markets.
