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Wall Street’s major averages opened lower on Thursday, with investor sentiment weighed down by geopolitical risks and trade tensions. Despite a soft PPI data, headlines on rising geopolitical risks in the Middle East, and a renewed tariff threat by U.S. President Donald Trump, continued to alarm traders. Investors will keep an eye out for tariff announcements in the coming weeks, after Trump said he intended to send letters to trading partners, setting unilateral tariff rates.
Among trade remarks from Trump, investors will also be awaiting certain economic reports due next week, such as the OPEC Monthly Report on Monday, and Core retail sales, Export and Import Price Index, Retail Sales, and Industrial Production on Tuesday. Wednesday will include Housing Starts and Building Permits, while Jobless Claims will be released on Thursday. The week will end with reports on the Philadelphia Fed Manufacturing Index, and Baker Hughes Rig Count.
Accenture (ACN), Kroger (KR), CarMax (KMX), and Lennar (LEN) will report earnings next week.
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Earnings spotlight: Monday, June 16: Lennar. See the full earnings calendar.
Earnings spotlight: Tuesday, June 17: Jabil Circuit (JBL), Kirklands (KIRK), Vince (VNCE). See the full earnings calendar.
Earnings spotlight: Friday, June 20: Accenture, Kroger, CarMax. See the full earnings calendar.
Volatility watch: Global stock markets will be on edge as developments in the Middle East play out. New Fortress Energy (NFE) and CoreWeave (CRWV) have a higher level of implied volatility than normal based on options trading. The most overbought stocks per their 14-day relative strength
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