- Iran has not yet responded to the American bombing of nuclear sites during the weekend.
- Petroleum prices give up some profits as the total war does not arise after US participation in Israel’s conflict against Iran.
- Michelle Bowman, a member of the Fed, gives a green light to a rate cut in July.
- Existing housing sales and Global S&P PMI data improve with the expectations of consensus.
Although the US bombed three nuclear sites in Iran during the weekend, the initial setback has given way to profits in all the main variable income rates of the US on Monday. For noon, the Dow Jones industrial average (DJIA) had won 0.16%; The S&P, 0.34%; and the Nasdaq, 0.43%.
The risk appetite contrasts strongly with Sunday’s deep concerns about Iranian reprisals, which sent the future actions down at that time. Now, the speculation is that Iran could refrain from a counterattack and, on the other hand, continue hitting that country since the war began with a unilateral air attack on June 13.
“In terms of what all this means for markets in the future, It’s really about whether the Iranian regime weapons oil, and in particular if they seek to close the Ormuz Strait, where more than 20% of the world’s oil flows daily“Jim Reid de Deutsche Bank said in a client note after US attack.
Although the Parliament of Iran has approved the closure of the Ormuz Strait, where Saudi Arabia and other Gulf nations transport its oil, it has not yet done so. WTI oil has dropped less than 1% to $ 73.37 at the time of writing.
US Market News
The US variable rent is also benefiting from economic data At the beginning of the week. Both the Global S&P purchasing managers (PMI) index and existing housing sales data came better than expected on Monday.
While the Global S&P manufacturing PMI remained in 52, it was better than the consensus of 51. Also, although the Global S&P services PMI fell to 53.1 from 53.7, it was still better than the consensus of 52.9.
The change in existing housing sales for May increased 0.8% despite the consensus of -1.3% and the fall of April.
A Michelle Bowman speech of the Federal Reserve (Fed), who declared Monday that he is in favor of an interest rate cut as soon as in the meeting of the Central Bank of July. Michelle Bowman is now the second voting member to suggest early cuts, after Christopher Waller’s Friday admission.
Boeing (BA) He won more than 1% on Monday after the initial tests of the June 12 accident of Air India flight 171 demonstrated that the GE Aerospace (GE) engine could have been the culprit instead of any direct Boeing system.
IBM (IBM) He wins more than 1.6% on Monday in what seems to be a continuation of the positive news series of last week. IBM has pledged to build a next -generation quantum computer in the state of New York, and Wedbush Securities raised its target price of $ 300 to $ 325, citing the 6,000 million dollars in generative reserves of the company.
Tesla (Tsla) It misuses more than 10% after starting Robotaxi tests in Austin, Texas, Sunday.
DAILY GRAPH OF THE S&P 500 INDEX
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
