KG: U.S. & Iran Need "Concrete" Resolution to Support Market Rally

• January construction spending came in at -0.3%, below the 0.1% estimate, with the prior month revised upward to 0.8%.
• President Trump's announcement of postponing strikes on Iran for five days has fueled a market rally, with major indices up and energy futures down.
• Gold futures are moving lower, trading as a 'risk-on' asset rather than a safe haven, coinciding with broader market optimism and reduced rate cut expectations.

The market is rallying to open the trading week, driven by President Trump's announcement of postponing strikes on Iran's energy infrastructure for five days, following 'good and productive conversations'. This has led to a risk-on sentiment, with equities moving higher and crude oil and gold futures pulling back, despite conflicting reports from Iranian state media.