Good morning and welcome to Markets Desk, your opening read on the stories moving money today.
Jamie Dimon is sounding the alarm on dollar dominance. The JPMorgan chief warned that the dollar could lose its reserve currency status if the United States surrenders its economic and military edge, pointing to over-reliance on China for critical materials and flagging that the Iran conflict has exposed real gaps in American readiness for prolonged engagement.
Feeding directly into that geopolitical tension, European equities are set to open marginally lower as Strait of Hormuz risk keeps traders cautious. Investors are also positioning ahead of key American inflation data this week, with both consumer and producer price index readings due to provide fresh signals on where the Federal Reserve stands on rate policy.
Meanwhile, in the energy sector, President Trump is training fire on the oil majors, accusing Exxon Mobil and Chevron of pocketing too much profit. The political pressure lands at a delicate moment, as elevated crude prices tied to Middle East tensions are simultaneously padding supermajor balance sheets while drawing scrutiny from both ends of the political spectrum over what those companies choose to do with the windfall.
That's the tape. Markets Desk, signing off the floor.
