Everyone's About to Be an Expert on Iran and Interest Rates

Let's try our best to avoid the noise and focus on what price action is telling us.

Good Morning:

US stock futures pulled back Tuesday morning as geopolitical tensions between Israel and Iran intensified.

The news casts a shadow over what had been a remarkably resilient market.

The big story is that President Trump called for evacuating Iran's capital and his abrupt departure from the G7 summit stoked fears of regional escalation.

The market's mood shift comes just a day after stocks closed higher on reports that Iran sought a ceasefire and renewed nuclear negotiations.

But Trump's rejection of any temporary pause—insisting instead on "a real end, not a ceasefire"—has investors reassessing their risk exposure.

Oil prices responded immediately, with Brent crude jumping nearly 2% to approach $75 per barrel.

Wall Street faces a lot of uncertainty right now.

The Federal Reserve begins its two-day meeting Tuesday, with markets seeking clarity on whether policymakers still plan two rate cuts in 2025.

Meanwhile, the approaching deadline for Trump's tariff decisions adds another laye…