ICE EUA FUTURES TECHS: (26) Corrective Pullback

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(MNI) London – All timings are subject to change.

Monday 8 June:

• Middle East: An expanded meeting of the Israeli Political-Security cabinet is due to take place at 21:00 local time (14:00ET, 19:00BST, 20:00CET). Comes amid a major escalation in violence in the Middle East, with Iran and Israel having launched missile and drone strikes on one another for the first time since the April ceasefire came into effect. Tensions had ratcheted up in recent days amid the ongoing conflict between Israel and Hezbollah in Lebanon, and Iranian strikes on US military facilities and civilian infrastructure in the Gulf states. US President Donald Trump has sought to downplay threats to the ceasefire and the prospect of an eventual peace deal, and held a call with Israeli PM Benjamin Netanyahu earlier on 8 June. Iran has claimed an end to its military action, but it remains to be seen whether this holds.

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• President Donald Trump will participate in Executive Time in New Jersey at 08:00 ET 13:00 BST, hold a ‘tele-rally’ at his Bedminster resort at 17:30 ET 22:30 BST, and attend the NBA finals at Maddison Square Gardens in New York City at 20:30 ET 01:30 BST. Trump will return to the White House in the evening.  
• The House Rules Committee will meet at 13:00 ET 18:00 BST to consider the GOP’s USD$69.5 billion immigration enforcement reconciliation bill, which passed the Senate early on Friday morning following an 18-hour ‘vote-a-rama’. GOP leadership intend to move the package to final consideration on Tuesday.
• Thursday’s Senate marathon ‘vote-a-rama’ laid bare how difficult it will be for Republican leadership to fast-track a third reconciliation bill before the midterms.
• Trump downplayed the first exchange of missile fire between Israel and Iran since a ceasefire took effect in April. The Iran-backed Houthis in Yemen are edging closer to entering the conflict as a direct combatant.
• Congress has until Friday to reauthorise FISA Section 702 or the warrantless foreign surveillance power will go dark.
• The Republican advantage in mid-cycle redistricting has given House Speaker Mike Johnson (R-LA) a buffer ahead of the midterms, but Democrats remain favoured to retake the House of Representatives.
• Chart of the Day: Graham Platner's faltering campaign in the crucial Maine Senate race is undermining Democrats' chances of flipping the Senate.  

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