Investors are monitoring a historic US-Iran peace deal to reopen the Strait of Hormuz alongside the Federal Reserve’s upcoming policy meeting led by new chair Kevin Warsh.

Key Points

• The US and Iran will formally sign a provisional ceasefire agreement in Switzerland this Friday to reopen the Strait of Hormuz.
• SpaceX concluded its record-breaking initial public offering on Friday with a market valuation reaching $2.1 trillion.
• The Federal Reserve’s FOMC meeting on Wednesday marks the first session chaired by Kevin Warsh.
• US manufacturing production data arrives Monday following a recent report showing the fastest wholesale price growth since November 2022.
• Accenture is scheduled to release its latest quarterly earnings report this Thursday, providing insight into the information technology sector.

Why it Matters

The reopening of the Strait of Hormuz is expected to alleviate the largest energy supply shock on record, potentially stabilizing global oil markets and easing inflationary pressures. Investors are also closely watching the leadership transition at the Federal Reserve to gauge the future direction of US monetary policy.