Oil Prices Jump After the Attack on Israel

The attack on Israel flared up long-standing tensions in the region, causing oil prices to jump. Some market analysts said prices could rise as high as $150 per barrel, but the initial shocks only sent prices back into the $90 range.

Optimism Returned Across the Equity Market

This week holds the July FOMC Meeting. Market participants anticipate that the FOMC will raise the Fed Funds rate one more time to the 525-550 basis point level. As it stands today, the CME Group projects the greater probability that this will serve as the peak in the Fed Funds rate.