U.S. Equity Index futures are trending lower across the board, led by a significant pullback in the Russell 2000 and Nasdaq. Despite some positive manufacturing data, global sentiment remains cautious as tensions in the Middle East resurface following Iranian military drills. This description analyzes the market's reaction to international headlines and weakening economic sentiment in Europe and Canada. Investors are now turning their attention toward the upcoming FOMC minutes to gauge the central bank’s stance on inflation and the labor market. Additionally, the video previews a heavy slate of corporate earnings and critical economic data, including U.S. durable goods and housing starts.