U.S. stock market futures fall: Dow, S&P 500, Nasdaq fall on oil drop, Fed signals, and rising Iran–Israel tensions

U.S. stock market futures slipped early Thursday as the Dow, S&P 500, and Nasdaq reacted to weaker oil prices, fading hopes of a Fed rate cut, and growing tensions between Iran and Israel with possible U.S. involvement. Investors are staying cautious after Fed officials hinted at just one rate cut in 2024, despite cooling inflation. The drop in Brent crude and a flight to safe assets like gold have added to market anxiety. With global headlines shifting quickly, traders are watching both Wall Street and the Middle East. Here's everything you need to know about what's moving the market today.
U.S. stock market futures dipped as Dow, S&P 500, and Nasdaq reacted to falling oil, Fed signals, and Iran–Israel tensions. Here's what's driving the drop—and what it means for your money, gold, and Wall Street today.
Tired of too many ads?
Remove Ads
S&P 500 futures : down about 0.2% to 0.3%
: down about Dow Jones futures : lower by roughly 0.15% (about 105 points)
: lower by roughly (about 105 points) Nasdaq-100 futures: sliding around 0.3%
What's driving the U.S. stock market futures down today?
Tired of too many ads?
Remove Ads
Which major stocks are making headlines in pre-market trading?
Stocks on the rise
CarMax (KMX) jumped 10% after reporting strong earnings that beat Wall Street estimates.
jumped after reporting strong earnings that beat Wall Street estimates. Circle Internet (CRCL) rose 9.7% on investor optimism around a new digital payment initiative.
rose on investor optimism around a new digital payment initiative. Tesla (TSLA) gained 1.6% , with excitement building over its robotaxi unveiling event in Texas later this year.
gained , with excitement building over its robotaxi unveiling event in Texas later this year. GMS Inc. (GMS) popped 29% after reports surfaced that Home Depot is preparing a takeover bid.
popped after reports surfaced that is preparing a takeover bid. Coinbase (COIN) is up about 2.2%, thanks to renewed momentum in the crypto market.
Stocks losing ground
Accenture (ACN) slid 3.7% on weaker-than-expected bookings guidance, signaling slowing enterprise demand.
slid on weaker-than-expected bookings guidance, signaling slowing enterprise demand. Smith & Wesson (SWHC) dropped a steep 13% following a quarterly earnings miss.
dropped a steep following a quarterly earnings miss. Regencell Bioscience (RGC) tumbled almost 19.5% as investors reacted to disappointing clinical updates.
How are oil and gold prices reacting to market uncertainty?
Oil cools down after earlier spike
Brent crude was last down nearly $2 , trading at around $76.96 a barrel
was last down nearly , trading at around WTI crude is also trending lower but remains up roughly 3.8% for the week
Gold slips as risk appetite recovers slightly
Gold futures were down about 1.15% in early Friday trading
The drop follows a two-week rally sparked by global uncertainty and a weaker dollar
What economic data and market trends should traders watch today?
Tired of too many ads?
Remove Ads
1. The Philly Fed Index
2. Consumer Sentiment
3. Interest rate speculation
4. Tech and energy stock movement
What should investors watch today?
Key economic data: Keep an eye on the Philly Fed manufacturing index and other leading indicators expected later today.
Keep an eye on the and other leading indicators expected later today. Oil prices: Any flare-up in the Middle East could push crude sharply higher, impacting inflation forecasts and energy stocks.
Any flare-up in the Middle East could push crude sharply higher, impacting inflation forecasts and energy stocks. Gold: A further dip might signal reduced market fear — or strengthen the U.S. dollar's trend.
A further dip might signal reduced market fear — or strengthen the U.S. dollar's trend. Earnings: Watch for more surprise moves from tech, industrials, and consumer stocks throughout the session.
Where does the U.S. stock market stand heading into the weekend?
U.S. stock market futures are drifting slightly lower this morning, June 20, as traders weigh a mix of earnings surprises, falling oil prices, and fresh uncertainty over rising geopolitical tensions in the Middle East. With inflation data, Fed policy expectations, and crude volatility all in focus, investors are staying cautious ahead of the opening bell.At around 7:30 a.m. ET, Dow Jones futures were down about 105 points, or 0.15%, while S&P 500 futures dipped around 0.2%. Nasdaq-100 futures slipped nearly 0.3%, dragged by tech-sector pressure and global risk sentiment.Markets are treading carefully ahead of new economic data and uncertainty surrounding potential U.S. military involvement in the Middle East conflict.There's no single reason why markets are down this morning—it's a mix of headlines. The biggest drag comes from geopolitical uncertainty. After reports of Israeli military strikes in Iran earlier this week, oil prices surged briefly. Now, as things cool slightly, traders are rebalancing risk.President Trump is expected to make a key decision within the next two weeks on whether the U.S. will directly assist Israel militarily, which could have ripple effects across oil markets, defense stocks, and global equities. According to CNBC, this is one of the key concerns for investors trying to understand where markets could go next.Then there's the Federal Reserve. The central bank held interest rates steady this week but continued with a hawkish tone, suggesting it's still not ready to cut aggressively. Traders in the futures market now price in about 47 basis points of rate cuts by the end of 2025, with around 59% odds of a September rate cut, according to CME Group's FedWatch Tool.Several big-name companies are seeing sharp moves ahead of the trading session. Some are soaring, while others are tumbling after disappointing results or news.Oil markets are still feeling the aftershocks of this week's geopolitical headlines. Prices rose earlier in the week when Israeli airstrikes hit Iran, but today they're easing slightly.Earlier in the week, Brent surged as high asamid fears of escalating conflict, but the pullback suggests markets are hoping tensions won't spiral further—for now.Gold, often seen as a safe-haven investment, is also heading lower.Still, investors haven't fully backed off gold yet. If geopolitical fears pick back up or the Fed surprises markets, gold could spike again.Investors have several key things to keep their eye on as Friday trading gets underway.The Philadelphia Fed's manufacturing report will be released today. It's a leading indicator of economic health and can offer clues about whether the economy is slowing or holding up.Look for any updates in consumer behavior or retail data, which could hint at the strength of upcoming earnings for consumer-facing brands.Fed officials remain cautious about inflation, and today's commentary from Fed speakers could shift expectations again. As of this morning, markets still lean toward a, but nothing is guaranteed.Tech stocks are struggling this morning, weighed down by broader market tension. Meanwhile, energy stocks could swing based on oil's path. Companies like, andmay see volatility throughout the day.Theare in a wait-and-watch mode. With the Fed not offering immediate relief, global conflicts brewing, and oil and gold reacting to every headline, there's little room for complacency.Investors should stay focused on key economic reports, earnings announcements, and geopolitical developments. As we close out the week, sentiment appears cautious—but not panicked. A lot depends on how the next 24 to 48 hours unfold in the Middle East and Washington.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Business Standard

2 hours ago

• Business Standard

No OPEC+ action needed amid Iran-Israel conflict, says Putin on oil market

Russian President Vladimir Putin said on Friday that oil prices had not risen significantly due to the conflict between Iran and Israel, and that there was no need for the OPEC+ group of oil producers to intervene in oil markets. Oil prices have rallied as a week-old air war between Israel and Iran escalated and uncertainty about potential US involvement kept investors on edge, with Brent crude futures touching their highest since late January. Putin said the price of oil now stands at around $75 per barrel, while before the conflict escalated it stood at $65. "Of course, we see that the current situation in the Middle East, the current situation related to the conflict between Iran and Israel, has led to a certain increase in prices. But this increase, in the opinion of our experts, is not significant," Putin told the St Petersburg Economic Forum. Iran is the third largest producer among members of the Organization of the Petroleum Exporting Countries. Hostilities could disrupt its supply of oil and thereby increase prices. Putin also said OPEC and allies including Russia - a group known as OPEC+, which pumps about half of the world's oil - were increasing oil output, but doing so gradually, to ensure balance in the oil market and "comfortable" prices. "We will all see together how the situation unfolds. So far no immediate response is required," he said.

Time of India

3 hours ago

• Time of India

1% stamp duty hike likely to overcome Q1 property revenue shortfall

Bengaluru: Revenue shortfall from property registration in the first quarter of this fiscal has prompted the Karnataka govt to actively consider increasing stamp duty by 1%. The stamp duty was last revised in 2013. At present, the govt levies 5% stamp duty on the guidance value (minimum selling price of property fixed by the govt), 1% registration fee, 0.5% cess, and 0.1% surcharge. In all, property buyers pay 6.6% in cess and duty. They might end up 7.6% if the govt clears the hike proposal. Chief minister Siddaramaiah, who holds the finance portfolio, convened a meeting on June 18 to review the performance of the department of stamps & registration. Taking a serious note of the shortfall, he reportedly directed both finance and stamps & registration departments to take measures to improve revenues. Finance officials suggested upward revision in stamp duty. Sources said the CM will take a final call once there is consensus between revenue and S&R departments. Karnataka has the lowest stamp duty among its neighbours, barring Andhra Pradesh. Tamil Nadu levies 11% that includes stamp duty and registration fee, and Maharashtra imposes 7%. Underwhelming revenues from property registration have been a cause of concern, as it potentially implies a sluggish real estate sector. While Siddaramaiah fixed a target of Rs 26,000 crore for 2024-25, he was forced to downscale it to Rs 24,000 crore. But the department could collect only Rs 22,500 crore by the end of the year. This fiscal, the CM fixed a target of Rs 28,000 crore. Going by this, the department was to have collected Rs 7,000 crore on average in the first quarter that ends on June 30. It collected Rs 5,556 crore, logging a 35% shortfall. "The govt is obviously worried about the revenue shortfall, but a stamp-duty hike is not the solution. It should realise that the shortfall is mainly due to the ill-implementation of the policy mandating e-khata for registration and tech glitches in the Kaveri portal. The govt does well to rectify this instead of hiking stamp duty," said T Bhaskar Nagendrappa, state president of Credai (Real Estate Developers' Associations of India). He said the govt increased its guidance value by 39% in 2023, and any hike in stamp duty would make property purchase costlier and negatively impact the sector. "The irony is the govt decided to keep sub-registrar offices open on weekends. But what's the use if the portal is glitch-ridden and e-khatas are not issued," said one sub-registrar. Ends GFX Sagging S&R Revenues 2024-25 Original target: Rs 26,000 crore Revised target: Rs 24,000 crore Achieved: Rs 22,500 crore 2025-26 Annual target: Rs 28,000 crore Target till June 30: Rs 7,000 crore Achieved till June 19: Rs 5,556 crore Source: GoK

Mint

3 hours ago

• Mint

TSX ends largely flat for the week as market shows resilience

TSX ends down 0.03% at 26,497.57 Advance estimate shows retail sales down 1.1% in May Technology sector declines 0.5% Two sectors end higher, including financials June 20 - Canada's main stock index was barely changed on Friday, holding near its recent record high, as investors assessed developments in the Middle East conflict and domestic data that showed signs of an economic slowdown. The S&P/TSX composite index ended down 8.43 points, or 0.03%, at 26,497.57, extending its sideways pattern since notching a record closing high on June 12. For the week, the index was also down 0.03%. "The fundamental theme is one of market resilience," said Elvis Picardo, a portfolio manager at Luft Financial, iA Private Wealth. "We have a lot of moving parts. You've got geopolitical risk, you've got trade talks, you've got central bank action - a host of elements which make it difficult to predict where we'll be in the second half of the year and yet investor sentiment is still leaning towards risk-on, still concerned about the fear of missing out rather than encountering a sudden downside." Canada's retail sales were up in April on a monthly basis but were below estimates, while advanced data showed a drop of 1.1% in May. "The advance estimate sets a somber tone for the second quarter," Maria Solovieva, an economist at TD Economics, said in a note. "In addition, our internal credit and debit card spending data shows a meaningful softening in spending through May, suggesting that consumers tightened their purse strings." The technology sector fell 0.5%, with technology consulting company CGI Inc down 2.1%. Consumer staples was also a drag, losing 0.5%. Ltd is weighing options to expand production of germanium, a strategic metal key to chipmaking, and is currently talking with governments, including Canada and the United States, on available funding, the company told Reuters. Shares of Teck were down 1.2%. Just two of the 10 major sectors ended higher but they included financials, the most heavily weighted sector. It added 0.1%. This article was generated from an automated news agency feed without modifications to text.