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S&P Futures are lower this morning as geopolitical issues in the Middle East continue to weigh on the market’s sentiment. News reports that President Trump’s plans to make a decision in two-week on potential U.S. military action against Iran has yet to turn markets higher.  President Trump is schedule to hold a national Security meeting later this morning. Fed policy remains on hold as officials continue to wait for inflation data to move higher due to the Trump Tariffs. Fed officials now see slower GDP growth, higher unemployment and more inflation this year versus the previous projection. On the earnings front, KR, ACN, DRI & KMX are scheduled to report this morning.

S&P Futures are essentially flat this morning with economic data in focus. This morning the weekly Jobless Claims are due out and this afternoon there is a Fed announcement on monetary policy. The update to the Dot Plot data could spark some volatility. The G7 meeting wrapped up yesterday with no trade deal news. The July 9th deadline for trade deals is weeks away and so far no deals have been announced. Israel targeted weapons and nuclear sites in Iran overnight as the conflict entered its sixth day and the U.S. is said to be considering joining Isreal in its offensive. Iran’s leader is scheduled to give a speech today. The Senate yesterday passed the Genius Act to regulate cryptocurrencies. On the earnings front, LZB is lower after its earnings report. KR, ACN, DRI & KMX are scheduled to report Friday morning.

S&P Futures are moving lower as the conflict in the Middle East weighs on sentiment. President Trump left the G7 meeting earlier than scheduled without any trade deals. He posted a comment calling on the residences of Tehran to evacuate the city which has the markets on edge. The FOMC meeting starts today with an announcement scheduled for tomorrow. The BOJ left rates unchanged. Oil and defense stocks are higher this morning. Solar stocks are falling as Senate Republicans look for a full phase out of tax credits. Economic data on Retail Sales and Industrial production are due out this morning. On the earnings front, LEN is moving higher after its earnings report. LZB is due out after the bell today.

S&P Futures are displaying positive action this morning. While tensions in the Middle East remain elevated, Isreal has clearly demonstrated its superiority as they continue to focus their attacks on disabling Iran’s nuclear program. The G7 meeting are underway, President Trump will be in attendance. Focus will be on Trade talks and the Middle East. There are a host of Central Bank meetings this week with scheduled announcements from the BOJ, FOMC and the BOE over the next few days. The key economic report for today is the Empire State Manufacturing index. On the earnings front, LEN will be releasing earnings after the bell.