Will a U.S.-Iran Peace Deal Be a Bullish Gamechanger?
What’s in Today’s Report:
- Will a U.S.-Iran Ceasefire Be a Bullish Catalyst?
- Weekly Economic Outlook – All Eyes on U.S. Inflation Data
Stock futures are solidly higher this morning as oil trades well below $100/barrel and Treasury yields are retreating sharply amid ongoing peace deal hopes despite reports of U.S. missile strikes on Iranian targets over the weekend.
There were no market-moving economic reports overnight leaving focus on geopolitical tensions in the Middle East after the U.S. launched military strikes against Iranian targets over the weekend. The strikes were referred to as “defensive” in nature by U.S. military leadership, however, and President Trump made optimistic comments that a peace deal with Iran is close which is helping bolster “risk-on/war-off” money flows in pre-market trade.
Today, there are a handful of economic reports to watch in the U.S. including the Case-Shiller Home Price Index (E: 1.0%), the FHFA House Price Index (E: 1.7%), and most importantly Consumer Confidence (E: 91.6) due out shortly after the bell.
There are no Fed officials scheduled to speak today however there is a 2-Yr Treasury Note auction at 1:00 p.m. ET that will offer an important read on bond market sentiment after the long weekend (the stronger the demand the better for stocks).
Finally, earnings season continues today with quarterly reports due out from AZO ($36.09), ZS ($1.01), and SQM ($1.78).
