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Wall Street will have a busy week ahead, with market participants keeping a close eye on the escalating conflict between Israel and Iran and any further trade developments. Meanwhile, traders will also see a Federal Reserve monetary policy decision and a busy economic calendar.
Over the weekend, Israel said it was striking military targets in Tehran and advised Iranians to evacuate weapons factories. Iran also launched more missiles against Israel. Oil prices (CL1:COM)(CO1:COM) will be on watch, and so will gold (XAUUSD:CUR).
The Fed will deliver its fourth interest rate decision of the year on Wednesday, and the Monetary Policy Committee is widely expected to leave the key policy rate unchanged. The spotlight will be on its updated economic projections, the first since the "Liberation Day" tariffs, and Chairman Jerome Powell's press conference.
In terms of economic data, the May U.S. retail sales report is due on Tuesday. Housing starts and building permits are on the docket on Wednesday.
Earnings spotlight: Monday, June 16: Lennar (LEN). See the full earnings calendar.
Earnings spotlight: Tuesday, June 17: Jabil Inc. (JBL), Kirkland's (KIRK), Vince (VNCE). See the full earnings calendar.
Earnings spotlight: Friday, June 20: Accenture (ACN), Kroger (KR), CarMax (KMX). See the full earnings calendar.
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