Markets will focus Friday on conflict in the Middle East after Israel launched massive attacks at Iranian military targets on Thursday, with strikes on nuclear and missile sites and other military targets. Israeli officials said they acted because Iran was racing to achieve a nuclear bomb. US Secretary of State Marco Rubio said Israel acted alone and the US was not involved in the attacks. Iran was expected to retaliate for the attacks with heavy missile strikes against Israel, presumably calibrated to the severity of Israel's initial strike. In the past, the US has helped defend Israel, including shooting down Iranian missiles, and it seems likely the US will do so again. In the past, Iran has pledged to attack US targets in the Middle East if Israel strikes against Iran's nuclear facilities.

Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.

Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.