Stock market today: Dow, S&P 500, Nasdaq rebound, oil slips as Israel-Iran conflict enters 4th day

Greetings from Cannes Lions, where I am stationed for the week talking with top advertising execs, sports stars and CEOs. Tough assignment!

I have found this event to be very useful each year in helping to understand the economy into year end. You would be surprised how forward-looking market spend trends are at the world’s biggest companies.

To that end, I just got off set with Disney’s (DIS) president of global advertising Rita Ferro — one of the top names in the marketing industry. I asked her if a slowing US economy and general macro volatility were beginning to chip away at ad budgets.

She wasn’t super bullish about ad spending — more cautiously optimistic. Businesses are buying ads once they see they need them, rather than making large commitments on ad spend early, she suggested.

“I think people are being very intentional where they spend money,” Ferro tells me. “I would say they’re [the data points she watches] not recessionary. We see much closer in buying.”