Sanctions, tariffs and earnings headline the week ahead
On Tuesday just after midnight U.S. Eastern time, the Trump administration will bring back a series of sanctions against Iran that had been waived under the Iran nuclear deal.
It was an Obama-era agreement that gave Iran sanctions relief in exchange for curbs on its nuclear program.
In May 2018 President Trump announces that he was backing out of the Iran Nuclear Deal.
This will just be the first wave with the remainder reimposed in November.
Trade tensions will continue to weigh on investors' minds.
Chinese officials said Friday they would impose tariffs on $60 billion of U.S. products if Washington moves ahead with threats to raise the rate of planned duties on $200 billion of Chinese goods to 25% from 10%.
The parade of corporate earnings continues on Monday with reports from Cardinal Health, Newell Brands, Sea World, Sotheby’s and Tyson Foods before the bell.
After the markets close, we’ll get reports from Hertz, Marriott, Tenet Healthcare and Weight Watchers.
In politics on Tuesday, there will be primaries in Kansas, Michigan, Missouri and Washington.
Earnings are scheduled from Dean Foods and Office Depot in the morning. After the bell reports are expected from Avis Budget, Hostess Brands, Papa John’s, Walt Disney and Wendy’s.
Wednesday has a full-plate of earnings reports including CVS Health, Dr Pepper, Michael Kors, New York Times, and Sinclair Broadcasting,
The afternoon agenda includes 21st Century Fox, which is the parent company of FOX Business, Equinix, Roku, and Yelp will also report.
There will also be a speech from Fed Bank of Richmond President Tom Barkin.
We’ll get the first inflation-related report of the week on Thursday in the form of producer prices. The weekly report on jobless claims will also be issued.
Earnings will include Gannett, Norwegian Cruise Lines, Viacom and News Corp.
Friday wraps up the week with the latest on consumer prices.