Though stocks soared early on the two-week ceasefire, things aren't back to normal and there's no guarantee oil will stay muzzled. Shipping and supply chains take time to recover.
Trading today could hinge on any fresh escalation or de-escalation of the war, as well as the impact of oil prices. Stocks were resilient early this week despite war concerns.
Live Cattle Futures get a technical breather from Monday’s highs for the June 26 contract (/LEM26), down -1.225 cents to 245.80 from Monday’s settlement. Equity futures look higher, crude oil is down after ceasefire announcement.
Though stocks soared early on the two-week ceasefire, things aren't back to normal and there's no guarantee oil will stay muzzled. Shipping and supply chains take time to recover.
President Trump's deadline tonight for Iran to re-open the strait or face new attacks could keep investors nervous today, keeping focus on oil. A Treasury auction is also on tap.
Friday's March payrolls data that showed jobs growth of 178,000 sent bond yields higher in holiday trading. This week brings key inflation reports and earnings from Delta.
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