US Macro Daily(Beta Mode)
Oil Surges on Iran Tensions, ISM in Focus
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| S&P 500 | 7,580.06 | +0.22% |
| Nasdaq 100 | 30,333.18 | +0.36% |
| Dow Jones | 51,032.46 | +0.72% |
| Russell 2000 | 2,919.34 | -0.59% |
| USD/JPY | 159.45 | +0.12% |
| EUR/USD | 1.17 | -0.02% |
| GBP/USD | 1.35 | +0.14% |
| Gold | 4,539.00 | -0.47% |
| WTI Crude | 90.65 | +3.77% |
| Bitcoin | 72,630.73 | -1.29% |
| US 2Y Treasury | 3.99% | -0.25% |
| US 10Y Treasury | 4.45% | -0.67% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
US 10-Year Treasury Yield | Type: macro_line | Percent: 4.45 (2026-05-28) | Range: 1.19–4.98 | Trend(6pt): 1.59,3.12,4.39,4.25,4.5,4.45
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| ISM Manufacturing PMI | 52.70 | 52.60 | 06:00 |
| ISM Manufacturing Employment | 46.40 | - | 06:00 |
| Tuesday (2026-06-02) | |||
| Speech by Fed's Kashkari | - | - | 21:50 |
| Fed Hammack Speech | - | - | 04:30 |
| JOLTs Job Openings | 6.9m | 6.9m | 06:00 |
| API Weekly Crude Oil Stocks | -2.8m | - | 12:30 |
| Wednesday (2026-06-03) | |||
| MBA 30-Year Mortgage Rate | 6.65 | - | 03:00 |
| ADP Employment Change | 109,000 | 116,000 | 04:15 |
- ISM Manufacturing PMI due at 6:00 a.m. ET, consensus 52.6 versus prior 52.7
- WTI Crude jumps 3.77% to $90.65 on US-Iran exchange of fire
- Dow rises 0.72% while Russell 2000 falls 0.59%; 10-year yield drops 0.67% to 4.45%
Yesterday's Recap
No US data releases occurred on May 31. Equity markets posted mixed results with the Dow Jones advancing 0.72% to 51,032.46 and the S&P 500 gaining 0.22% to 7,580.06. The Nasdaq 100 rose 0.36% while the Russell 2000 declined 0.59%.
Treasury yields fell across the curve, with the 2-year note at 3.99% and the 10-year at 4.45%. WTI Crude climbed sharply on Middle East developments while gold slipped 0.47% to $4,539. The dollar firmed modestly against the yen.
US unemployment stands at 4.30% and CPI inflation at 2.31% year-over-year. The Fed Funds rate sits at 3.62%. Elevated oil prices from geopolitical tensions risk adding to near-term price pressures.
Labor-market indicators such as JOLTs will help gauge whether cooling remains orderly.
The Day Ahead
ISM Manufacturing PMI and employment sub-index release at 6:00 a.m. ET, followed by Kashkari speech at 9:50 p.m. ET.
On June 2, Hammack speaks at 4:30 a.m. ET and JOLTs Job Openings print at 6:00 a.m. ET.
ADP Employment Change and Services PMI follow on June 3 alongside Factory Orders. Markets will parse the ISM print for signs of manufacturing resilience given the 52.6 consensus. Renewed US-Iran military exchanges lifted oil prices and weighed on risk sentiment outside energy.
Asian equities rose on optimism for a potential ceasefire. India’s forex reserves fell to a one-year low of $681.4 billion. ECB policy remains on hold with a July cut still signaled.
Norges Bank added a $902 million UPS stake. Broader commodity strength may support US export sectors while pressuring import costs.
Other Economic Notes
US unemployment stands at 4.30% and CPI inflation at 2.31% year-over-year. The Fed Funds rate sits at 3.62%. Elevated oil prices from geopolitical tensions risk adding to near-term price pressures.
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