Four industrials print before Tuesday's open: GE Aerospace at 7:30 a.m. ET (consensus $1.60 EPS on $11.61 billion revenue), RTX at 8:30 a.m. ET (consensus $1.52 EPS), Halliburton at 9:00 a.m. ET ($0.53 EPS on $5.37 billion revenue), and 3M pre-market ($2.02 EPS on $6.04 billion revenue). [1][2][3][4] The cluster hits with Brent trading above $100 and the paper's Monday read on the Brent reversal into the blockade week still live.

The four names are the cleanest available split of how the Iran war prices into the industrial tape. RTX and GE Aerospace are defense and aerospace — the tailwind read, with order backlogs expected to be strong and Middle East demand embedded in guidance. Halliburton is the oil-services name most exposed to both higher Brent and regulatory cycle — the cost-input read with the WTI-greater-than-Brent inversion the paper has been tracking into its second week. [5] 3M is the diversified industrial — the logistics and input read, with the reformed portfolio exiting PFAS manufacturing by year-end and facing the Eastman 3M spin-off comparison. [4]

The guidance question each call must answer: does management name Iran specifically as a tailwind, cost, or input, or does it stay behind the standard "macro environment" formulation? Halliburton's 9 a.m. start is the last before the cash open and the cluster's true tell — oil-services companies either confirm the premium is booked into Q2 work or signal customers are delaying capital allocation on ceasefire uncertainty.

-- DARA OSEI, London