Overnight, the futures market saw modest activity with a net P&L of $+100.00 on the MES, reflecting a remarkable 100.0% win rate. As traders gear up for the session, the focus shifts to European politics, especially the statements from German Chancellor Merz who is set to highlight NATO contributions at an upcoming summit. This comes in the wake of geopolitical tensions, notably the IDF's recent airstrikes in Lebanon in response to provocations, which could have implications for regional stability and energy markets. In economic news, the ECB's Moulin has reiterated the dual priorities of stabilizing inflation while avoiding commitments to aggressive monetary tightening, hinting at a cautious outlook on economic recovery for Q2. Meanwhile, the UK automotive sector displays resilience with new car sales rising 14.9% year-over-year in June, a small but positive signal as markets digest various economic indicators. These developments are contributing to a generally positive sentiment in the market, as reflected by the AI sentiment reading and AI Pi of 64.2%. The lack of high-impact macro events in the immediate horizon could lead traders to closely monitor geopolitical headlines and their impact on market volatility, especially in light of existing long positions in ES and MES.