What’s the State of Infrastructure?

What’s in Today’s Report:

• What’s the State of Infrastructure?

Stock futures are little changed near all-time highs in quiet trading this morning as concerns about the “Delta” variant of COVID-19 linger while investors look ahead to fresh economic data in the U.S.

Economically, Japanese Unemployment edged up to 3.0% in May from 2.8% in April but Retail Sales topped estimates while Eurozone June Economic Sentiment met expectations.

Looking into today’s session, there are two reports on real estate prices due this morning: Case-Shiller Home Price Index (E: 1.2%) and FHFA House Price Index (E: 1.0%), before the more important release on Consumer Confidence (E: 118.8) is due out shortly after the bell.

There is also one Fed officials scheduled to speak: Barkin (9:00 a.m. ET) but as long as there is not a notable hawkish shift in tone, the commentary should not impact stocks.

That will leave investors focused on any news or developments regarding the “Delta” variant of COVID-19, specifically if any government imposes new lockdowns as a result and infrastructure negotiations.