The market derailed on confirmed reports Iran is preparing to launch a missile attack on Israel. These missiles have now been launched around 12:30 EST.

The news is sending major indices sharply lower and even though they are off the low point of the session, the angst is palpable.

The S&P 500 has a fair amount of support on a closing basis at $5,700.

Manufacturing ISM showed a sharp reversal in inventories, just as port workers have gone on strike.  I’m still searching for the manufacturing miracle.

The JOLTs report saw jobs online rebound. I’m more concerned about the quits rate which continues to plunge.

I think this matters more to Powell than a headline month-to-month bounce.