What’s in Today’s Report:
- What the Spike In Geo-Political Tensions Means for Markets
- What’s the Worst Case Geo-Political Scenario With Iran?
Futures are sharply lower following a spike in geopolitical tensions after a U.S. military strike killed a high ranking Iranian general.
A U.S. missile strike killed Iranian general Suleimani, who was the head of the Iranian military and arguably the second (and definitely the third) most important man in Iran. Iran has vowed a response and oil spiked 4% on the news.
Today focus will be on any Iranian military response, and obviously a further escalation in tensions will be negative for markets.
Away from geopolitics, we also get an important economic report, the ISM Manufacturing PMI (E: 49.1) and several Fed speakers including Barkin (11:05 a.m. ET), Brainard & Evans (1:15 p.m. ET), Kaplan (3:30 p.m. ET) and the FOMC Minutes (2:00 p.m. ET).