Futures are holding near the flat line as Wall Street catches its breath, with traders pivoting from yesterday's Iran-ceasefire euphoria straight into day one of the Fed's first meeting under new Chair Kevin Warsh. Index Futures Change S&P 500 Futures -0.1% Nasdaq 100 Futures -0.2% Dow Futures +0.1% Futures are drifting flat-to-slightly-lower after Monday's surge, as the market consolidates ahead of the FOMC decision. Overnight Recap Iran ceasefire extended, oil keeps sliding. A June 14-15 memorandum of understanding extends the existing Iran ceasefire by 60 days, reopens the Strait of Hormuz, and winds down related hostilities in Lebanon, with formal signing set for June 19 in Switzerland. Crude has fallen to its lowest level since mid-April near $80/barrel, easing inflation worries heading into the Fed meeting. The Warsh era begins. Today marks day one of the two-day FOMC meeting — the first u...
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