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US STOCKS-Wall Street futures edge higher as investors await Iran's retaliatory move
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US STOCKS-Wall Street futures edge higher as investors await Iran's retaliatory move
Jun 23, 2025 3:09 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window.)

*

Futures up: Dow 0.09%, S&P 500 0.23%, Nasdaq 0.28%

June 23 (Reuters) - U.S. stock index futures edged up on

Monday after oil prices pulled back from sharp gains earlier

with investors awaiting Iran's response to U.S. attacks on its

nuclear sites.

Over the weekend, the United States launched strikes on

Iran's nuclear facilities, and President Donald Trump hinted at

the possibility of regime change in Iran.

Oil prices briefly hit a five-month high amid rising

concerns around Iran shutting the Strait of Hormuz, a key oil

supply route. Brent futures were nearly flat at $77.06 a

barrel as of 05:49 a.m. ET.

Energy stocks rose in premarket trade, tracking a surge in

crude prices. Shares of energy majors Chevron ( CVX ) rose 0.8%

and Exxon gained 1.1%.

Defense stocks also rose, with Lockheed Martin ( LMT ) up

0.8%, RTX Corporation ( RTX ) gaining 0.9%, Northrop Grumman ( NOC )

advancing 1.2% and L3harris Technologies ( LHX ) jumping

1.3%.

"There is tension but not trauma as investors monitor

developments in the Middle East," Richard Hunter, head of

markets at Interactive Investor, said in a note.

As markets grapple with existing price pressures from

Trump's tariffs, the oil price volatility adds a new layer of

inflation concerns, with the 90-day suspension for U.S. tariffs

nearing.

At 05:15 a.m. ET, Dow E-minis were up 38 points, or

0.09%, S&P 500 E-minis were up 13.75 points, or 0.23%.

Nasdaq 100 E-minis were up 61.25 points, or 0.28%.

Among other movers, Tesla rose 1.6% after the

electric vehicle maker deployed 10 self-driving taxis in Texas,

marking the first time Tesla cars without human drivers carried

paying riders.

Shares of U.S. carriers were mostly down, with Delta Air

Lines ( DAL ), Southwest Airlines ( LUV ), United Airlines

and American Airlines ( AAL ) falling between 0.3% and

0.8%.

Following a strong rally in equities last month, which

pushed indexes close to their record levels, investor momentum

was bruised by rising geopolitical tensions.

The benchmark S&P 500 index remains about 3% below

its record level.

In major data, preliminary June PMI data is due at 09:45

a.m. ET and existing home sales data for May is scheduled at

10:00 a.m. ET.

U.S. Federal Reserve Board Governor Christopher Waller, Fed

Chicago President Austan Goolsbee, and Fed San Francisco

President Mary Daly are scheduled to speak later in the day.

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