S&P Futures are trading higher this morning. The dollar is weakening, which is a positive for corporate earnings, however, a weaker dollar is also considered inflationary. Media reports indicate that President Trump is actively considering naming his pick to succeed Federal Reserve Chair Jerome Powell, with the aim of shaping a more dovish narrative around interest rates. President Trump has a "One Big Beautiful Bill event today, the event is designed to pressure GOP holdouts. There is an EU Leaders Summit today which will cover topics such as Ukraine, the Middle East, Trump Tariffs, EU Defense and migration policy. On the economic calendar is data on Weekly jobless claims, durable-goods orders for May, the third estimate for first-quarter GDP, pending home sales. Micron shares are higher after its earnings beat. NKE to release earnings after the bell today.
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