Futures slip as Middle East conflict weighs; bank results and data in focus
© Reuters. FILE PHOTO: Traders work on the floor of the New York Stock Exchange in New York City, U.S., August 15, 2023. REUTERS/Brendan McDermid/File Photo - Futures for Wall Street's main stock indexes fell on Tuesday as investors assessed diplomatic efforts to contain the Middle east conflict, while gearing up for a slew of U.S. big bank earnings and economic data for insights into the economic health.
However, a report of Iran's Supreme Leader Ayatollah Ali Khamenei saying Israeli officials should face trial for their"crimes against Palestinians" sparked some fears of the conflict escalating. "They would not have liked Israel's improving relations with some Arab countries and therefore they need the conflict to keep going, not only to allow them to attack Israel via their proxy armies but also derail these improving relationships."), due before market open, after some major U.S. banks on Friday said higher interest rates boosted profits amid a slowing economy and cautious consumer behavior.
A handful of Federal Reserve officials are also set to speak during the day, including New York's John Williams, Richmond's Thomas Barkin, Minneapolis' Neel Kashkari and Board Governor Michelle Bowman.
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