Any surprises in key data could seal the deal for a rate cut at the Federal Reserve July 30-31 meeting.
Global oil prices extended gains Tuesday after OPEC members agreed to extend their pact of output cuts well into next year, citing an improving global economy and the ongoing boom in shale boom in the United States that has lifted domestic production to record levels.
Global oil prices surged again Monday, taking U.S. crude past $60 a barrel, as both Saudi Arabia and Russia said they would support an OPEC agreement that would extend the cartel's production cuts well into the second half of the year.
Federal Reserve policy over the last decade has at times thrown off the traditional relationship between equities and Treasuries.
Gold prices climbed to a fresh six-year high Monday, while the U.S. dollar extended declines and some European government bonds hit new all-time lows, as investors retreated into risk-free assets ahead of this weekend's G20 Summit in Japan and simmering military tensions in the Gulf Region.
As Wall Street returns from the weekend, we're looking ahead to the G20, Caesars and the kickoff of earnings season as investors eye increasing tensions between the U.S. and Iran.