September S&P 500 E-Mini futures (ESU25) are trending up +0.16% this morning, extending yesterday’s gains, while investors await further testimony from Federal Reserve Chair Jerome Powell for clues on the rate outlook.
The ceasefire brokered by U.S. President Donald Trump between Iran and Israel appeared to be holding on Wednesday, with both sides declaring victory in the war. Trump’s Middle East envoy said late on Tuesday that talks between the U.S. and Iran were “promising” and that Washington remained hopeful for a long-term peace agreement. Investors are now turning their attention back to the U.S. economy and how trade tensions and fiscal pressures could impact corporate earnings and growth.
