The major U.S. index futures on the Dow Jones, S&P and Nasdaq are currently pointing to a notably lower open for the markets on Friday, with stocks likely to show a significant move back to the downside after ending the previous session modestly higher.

Investor attention is also fixed on the Federal Reserve, which begins its two-day policy meeting Tuesday. The outcome is expected on June 18 Experts predict that this could mark the fourth consecutive meeting where the Fed keeps interest rates unchanged.

Stocks rose and oil prices retreated on Monday as investors shrugged off the continuation of hostilities between Israel and Iran over the weekend.

The Dow Jones Industrial Average gained about 350 points on Monday, buoyed by hopes of easing tensions in the Israel-Iran conflict. Investor optimism stems from reports of potential peace talks, despite conflicting statements from Iranian media.

As geopolitical risks jolt markets, STNE, CNC, CVS and PFE shine with low cash flow valuations and solid earnings outlooks.

At the same time, the Bureau of Labor Statistics this week reported that both producer and consumer prices increased just 0.1% on a monthly basis, pointing toward little upward pressure from the duties. Economists still largely expect the tariffs to show an impact in the coming months.

Monday’s bullish push has pared back some of last week’s late losses, pushing the Dow Jones Industrial Average back above 42,500. However, the major equity index remains embroiled in a consolidation zone that has plagued the Dow since mid-May.