There is considerable commentary in the media, including the FT, about financial markets, as well as what is happening in Gaza this morning.

As an FT newsletter notes:

We start in Wall Street, where analysts are calling the next few days the year's “most pivotal” for US markets. Here's why.

This is what is happening:

A flurry of key economic and corporate data will come out over the next three days.

That includes:

• Second-quarter US GDP today.
• A Federal Reserve interest rate decision, which increases the risk of stress between the Fed and Trump
• Earnings season is peaking, with tech heavyweights Meta and Microsoft reporting today and Apple and Amazon tomorrow.
• US labour data, which is expected to show slower job growth
• The president's tariff deadline.

As they say

Any one of these events would be market-moving in their own right, analysts note.

Together, these could create the tipping point in what the FT clearly thinks is an overvalued US stock market, as well as providing an indication of real stress in underlying markets. Trump might finally begin to appear to be ruining America, after all, as I have warned he will. It has only taken just over six months.

Of course, the tipping point may not be this week. But don't rule it out. I won't be. This might become ugly.