The G7 Summit begins amid a trade war, and tensions in Ukraine
Secretary of State Marco Rubio met with Canadian foreign leaders after weeks of tensions escalated between the US’s closest allies.
U.S. stock futures have been low after President Donald Trump suddenly left a group of seven summits in Canada.
Trump previously urged everyone to evacuate Tehran, reiterating that Iran should sign a nuclear deal with the United States.
Separately, US officials have said Trump will not sign a draft calling for the removal of the Israeli-Iran conflict.
Meanwhile, Israel is determined to continue its attack on Iran despite reports that Iran wants to resume nuclear talks.
In a television interview with Bloomberg, Israeli Strategy Minister Ron Dahmer, who mentions Iran’s missiles and nuclear programs, said, “We will work on operations to remove these two threats.” “It is now Iran to decide to meet with the US and agree to the condition that it should have taken a month or two weeks or two months ago,” he said.
At 6:15am on ET, futures based on the Blue Chip Dow fell 0.58%, while Broad S&P 500 futures fell -0.54%, while the tech-powered Nasdaq fell -0.56%. Oil prices have risen.
Retail sales data for May will be paid before the market opens. Economists surveyed by FactSet predicted a 0.7% decline in total sales between April and May after an increase of just 0.1% in the previous month.
However, this week’s main event is the Federal Reserve rate policy decision mid-week. According to the CME FedWatch tool, most people expect central bank policymakers to maintain rates of current target ranges of 4.25% to 4.50%.
In addition to the Fed’s policy announcement, the central bank will publish forecasts on economic growth, unemployment and inflation. Most economists expect the Fed’s forecast to show higher inflation in the second part of the year.
Cryptocurrency
JPMorgan Chase, the country’s largest bank, has applied for a trademark related to digital currency with the US Patent and Trademark Office (USPTO), and guessed the “JPMD” application, meaning the bank is preparing to launch its own stubcoin. Stablecoins are digital assets designed to maintain value along the US dollar.
According to the USPTO website, TJPMorgan Chase submitted its application on June 15th. This application lists “JPMD” as a good or service that offers “transaction, exchange, transfer, and payment services of digital assets,” among other categories related to cryptocurrency and blockchain technology.
Medora Lee is a money, market and personal finance reporter for USA Today. mjlee@usatoday.com and Subscribe to our free daily money newsletter Personal finance tips and business news every Monday to Friday.
