The conflict between the U.S. and Iran has intensified, with potential implications for global markets. Analysts warn that Iran might target the Strait of Hormuz, a vital oil trade route, or use proxies for strategic strikes, heightening geopolitical risks. In addition to these tensions, several key U.S. economic indicators are set to be released next week. These include the S&P Global Manufacturing PMI and ISM Manufacturing PMI on Monday, speeches by Federal Reserve officials on Tuesday and Wednesday, and the Beige Book on Thursday. Employment data, including the ADP report and non-farm payrolls, will also be closely watched, alongside the unemployment rate and retail sales figures on Friday.