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Miami Herald
12 hours ago
- Business
- Miami Herald
Stock; oil futures on roller-coaster ride amid Israel-Iran conflict
June 20 (UPI) -- Stock futures ticked lower before markets reopened Friday morning amid uncertainty among investors over the Middle East and whether the United States was about to get directly involved in the Israel-Iran conflict. Contracts connected to the Dow Jones Industrial Average dropped more than 83 points, 0.2%; futures for the tech-heavy NASDAQ 100 and broad-market S&P 500 futures were also off by 0.2% at the open after markets were shuttered all day Thursday for the Juneteenth holiday. However, all three sets of futures recovered lost ground by 8 a.m. EDT, and were roughly flat. The November contract for Brent Crude Oil, the international benchmark, fell by more than 2% on jitters from comments by Israeli Prime Minister Benjamin Netanyahu that he was weighing expanding airstrikes to "stategic targets" in Iran. However, at just over $72 per barrel, it remains more than $6 above where it was on June 12 before Israel launched its offensive on Iran. The news sent the July contract for West Texas Intermediate -- U.S. crude -- 1% higher, before reversing into negative territory, down 0.2%. "There are several key questions to answer before we know how stocks will handle this geopolitical shock, including how much of Iran's energy infrastructure will be impaired and for how long, whether Iran's nuclear capabilities will be completely wiped out, and whether the current regime will remain in power," LPL Financial chief equity strategist Jeff Buchbinder told CNBC. Analysts suggested the market was in a holding pattern, still digesting Fed Reserve Jerome Powell's decision to keep interest rates unchanged and comments that the central bank was unlikely to make a cut until the economic impact of President Donald Trump's tariffs became clearer. International markets were mostly positive, with stock prices higher in Europe and Asia, with the exception of Tokyo where the Nikkei 225 ended the day down 0.2%. Copyright 2025 UPI News Corporation. All Rights Reserved.
UPI
12 hours ago
- Business
- UPI
Stock; oil futures on roller-coaster ride amid Israel-Iran conflict
U.S. futures ticked lower overnight amid jitters among investors over the Middle East -- but later recovered after Trump put on hold a decision on direct U.S. involvement in the Israel-Iran conflict. File Photo by John Angelillo/UPI | License Photo June 20 (UPI) -- Stock futures ticked lower before markets reopened Friday morning amid uncertainty among investors over the Middle East and whether the United States was about to get directly involved in the Israel-Iran conflict. Contracts connected to the Dow Jones Industrial Average dropped more than 83 points, 0.2%; futures for the tech-heavy NASDAQ 100 and broad-market S&P 500 futures were also off by 0.2% at the open after markets were shuttered all day Thursday for the Juneteenth holiday. However, all three sets of futures recovered lost ground by 8 a.m. EDT, and were roughly flat. The November contract for Brent Crude Oil, the international benchmark, fell by more than 2% on jitters from comments by Israeli Prime Minister Benjamin Netanyahu that he was weighing expanding airstrikes to "stategic targets" in Iran. However, at just over $72 per barrel, it remains more than $6 above where it was on June 12 before Israel launched its offensive on Iran. The news sent the July contract for West Texas Intermediate -- U.S. crude -- 1% higher, before reversing into negative territory, down 0.2%. "There are several key questions to answer before we know how stocks will handle this geopolitical shock, including how much of Iran's energy infrastructure will be impaired and for how long, whether Iran's nuclear capabilities will be completely wiped out, and whether the current regime will remain in power," LPL Financial chief equity strategist Jeff Buchbinder told CNBC. Analysts suggested the market was in a holding pattern, still digesting Fed Reserve Jerome Powell's decision to keep interest rates unchanged and comments that the central bank was unlikely to make a cut until the economic impact of President Donald Trump's tariffs became clearer. International markets were mostly positive, with stock prices higher in Europe and Asia, with the exception of Tokyo where the Nikkei 225 ended the day down 0.2%.
Yahoo
4 days ago
- Business
- Yahoo
Investor optimism rolls over another geopolitical catalyst: Morning Brief
It doesn't take much to spook investors. For several months the broader macro environment has functioned like a grab bag of justifications to close out and watch from afar. Trade uncertainty, an unmoving Fed, and turmoil in the Middle East have kept money on the sidelines. And by the time you are reading this, those storylines will have already changed. Sensitivity to global events has also worked in investors' favor. It takes a lot to get the market down for a 10 count, even if it trips and even falls on a semi-regular basis. Being unfazed has yielded powerful returns as the S&P approaches the prior highs of February. But for as much as fickleness has defined Wall Street, optimism has a track record of rolling over negative catalysts in a year full of them. For those surprised at how resilient the markets have been despite the swirling geopolitical headlines, analysts have pointed to several factors that are motivating investors. Jeff Buchbinder, chief equity strategist at LPL Financial, wrote in a note on Monday that the parties behind the hostilities between Israel and Iran are likely interested in keeping the conflict contained, and that investors are also banking on limited disruption of oil production facilities. Jitters over the potential for a widening of the violence appeared to have been calmed amid a report that Tehran is looking to deescalate the conflict. On Monday, oil prices eased lower in a new sign that investors don't believe a protracted war — and fresh energy pricing pressures — will ensue this summer. As for the Fed, many central bank watchers expect officials to stick with their cautious approach, even or perhaps especially because of heightened uncertainty. Bill Adams, chief economist for Comerica Bank, wrote in a note on Monday that the Fed is likely to adhere to a plan of "patience" and "wait and see" as officials analyze how the mix of higher tariffs and tax cuts will impact the economy. The Fed isn't coming to the rescue, at least for a few more months. But as far as the stock market is concerned, even with mounting external events, there isn't much that needs rescuing. Hamza Shaban is a reporter for Yahoo Finance covering markets and the economy. Follow Hamza on X @hshaban. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Stocks rally and oil dips after report says Iran is looking to de-escalate its conflict with Israel
U.S. stocks rose Monday despite escalating attacks between Israel and Iran. The Dow, S&P 500, and Nasdaq all ended higher after falling Friday. The price of crude oil also fell almost 2% after a report claimed Iran is looking to negotiate with Israel to end the conflict. Despite several confrontations between Israel and Iran over the weekend and on Monday that have left hundreds of civilians dead, investors in the U.S. seemed to shrug off the escalating tensions in the Middle East as stocks rebounded to start the week. In fact, after falling Friday, the Dow Jones industrial average closed 0.75% higher Monday, while the S&P 500 increased 0.94%, and the Nasdaq Composite rose 1.52%. Jeff Buchbinder, chief equity strategist for LPL Financial, says the U.S. market is holding up well owing to a confluence of factors, including that both Iran and Israel have an 'interest in keeping the conflict contained.' 'There are several key questions to answer before we know how stocks will handle this geopolitical shock, including how much of Iran's energy infrastructure will be impaired and for how long, whether Iran's nuclear capabilities will be completely wiped out, and whether the current regime will remain in power,' says Buchbinder. Though U.S. crude oil surged Friday following Israel's initial attack, it fell almost 2% Monday, after the Wall Street Journal reported that Iran wants to negotiate an end to the conflict with Israel. That said, the two countries continued to attack each other's energy facilities Monday, and Israel struck the headquarters of Iran's state television live on air. The conflict in the Middle East is adding yet another layer of uncertainty to the economy, at a time when President Donald Trump's tariff policies are causing concern, as are the White House's immigration policies and the GOP tax bill. Investors will also be watching the Federal Reserve meeting this week. Though officials have signaled a hold on interest rates is likely, all eyes will be on Chair Jerome Powell for information on when the central bank could move. This story was originally featured on
CBS News
13-06-2025
- Business
- CBS News
Stocks fall as oil prices surge following Israel's attack on Iran
What Israeli airstrikes against Iran means for U.S. Stocks are down on Friday, with oil prices surging in the wake of the Israel's military strike on Iran. The S&P 500 slid 48 points, or 0.5%, to 5,998 points in early trading, while the Dow Jones Industrial Average dropped 559 points, or 1.3%, to 42,409 points. The Nasdaq Composite shed 0.8%. The market slide comes after Israel launched strikes on Iran's nuclear sites and other targets early Friday, the start of what Israel said could be a days-long attack. Iran responded by launching over 100 drones, which Israel claimed it was able to mostly intercept. The strikes come as President Trump seeks to rein in Iran's nuclear capabilities. The U.S. and Iran are scheduled to meet Sunday in Oman, as part of a series on ongoing talks. "The initial market response has been largely contained, but the risk of a broader military conflict certainly cannot be dismissed," said Jeff Buchbinder, chief equity strategist at LPL Financial. "Iran has begun to retaliate and will continue to do so. This phase of the conflict will likely last several weeks at least." The oil market had an even stronger reaction on Friday, with U.S. benchmark crude oil increasing $4.73 or 6.9% to $72.77 per barrel. Bent crude, the international standard, climbed $4.58 to $73.94 per barrel. If the conflict between Israel and Iran continues, it could impact the flow of oil from Iran, which is one of the largest producers of the natural resource in the world. One concern would be if Iran closes the Strait of Hormuz, through which millions of barrels of oil flow each day. But that's probably off the table for now, according to Kristian Kerr, head of macro strategy at LPL Financial. "We think this is unlikely for now given Iran's need to maintain oil sales to China," Kerr said in an email. In a research note, Capital Economics economists said the risk to oil prices is "more balanced" than previously thought. The Middle East tensions also affect markets beyond oil, said Joy Yang, head of index product management at MarketVector Indexes, noting a decline in Bitcoin prices and a rally in defense stocks, as airline stocks fall. Airlines, which use a lot of fuel as part of their business and need their customers feeling confident enough to travel, experienced sharp losses. United Airlines lost 5.2%, Delta Air Lines gave up 4.5% and Norwegian Cruise Line Holdings dropped 2.9%. Boeing shares are down 1% after a 5% dip Thursday following a crash in India involving one of its 787-8 Dreamliner planes. contributed to this report.
