Wall Street Week ahead: Spotlight on Israel-Iran conflict, Fed tariff decision, oil prices | Einsmark news

The major focus of the Wall Street investors in the coming week will fall on the Israeli-Iran conflict and the monetary policy decision of the US Federal Reserve. Last Friday, Israel launched massive assault on Iran’s core AAMD military sites. On Saturday, Israel’s Prime Minister Benjamin Netanyahu promised to continue to strike hard to Iran and said the purpose of Israeli operation is twice – to delay Iran’s nuclear ambitions and stop its ballistic missile program. Due to the conflict, oil prices have dropped the concerns about the crude offer. The price of a benchmark US crude oil rose 7.3% to $ 72.98. Brent Ru, the international standard, rose 7% to $ 74.23 for a barrel. Iran is one of the world’s most important oil producers. If a war becomes wider, it can slow down the flow of Iranian oil and keep the price of crude and gasoline over the world higher. The US Central Bank’s monetary policy committee is generally expected to leave the key rate unchanged. Next week, market participants will also start the release of data on US retail sales, housing and build permits. Economic calendar on June 16 (Monday) will be released a report on Empire State Manufacturing Survey for June. On June 17 (Tuesday), separate reports on US retail sales for May, the May Index for May, Industrial Production for May, and Home Builder Confidence Index for June will be released. On June 18 (Wednesday), separate housing reports for May, the May permits for May, and the FOMC interest rate decision are declared. Fed chairman Jerome Powell holds a press conference. On June 20 (Friday), separate reports on the manufacturing survey in Philadelphia for June and the US leading economic indicators will be released for May. Earnings to businesses will report the first quarter results in the coming week – Lennar, Jabil Inc., Kirkland’s, Vince, Accenture, Kroger and Carmax. Markets last week fell US shares on Friday on concerns about rising conflict in the West Asia after Israel’s attack on Iranian core and military targets. The S&P 500 dropped 1.13% to end the session at 5,976.97 points. The Nasdaq fell 1.30% to 19,406,83 points, while the Dow Jones industrial average scored 1.79% to 42,197,79 points. In the bond market, the return on the 10-year treasury increased to 4.41% from 4.36%. Gold prices jumped when investors searched for a secure halving to park their funds. A gram of gold increased by 1.4%.