financetom
Market
financetom
/
Market
/
Wall Street futures edge higher as investors await Iran's retaliatory move
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Wall Street futures edge higher as investors await Iran's retaliatory move
Jun 23, 2025 3:29 AM

(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 rose 0.8% and Exxon gained 1.1%.

Defense stocks also rose, with Lockheed Martin up 0.8%, RTX Corporation gaining 0.9%, Northrop Grumman advancing 1.2% and L3harris Technologies 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, Southwest Airlines, United Airlines and American Airlines 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.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Microsoft AI-Driven Alliance With Palantir Could Propel Their Stock To New Record Highs And Set New Standards In Data Analytics
Microsoft AI-Driven Alliance With Palantir Could Propel Their Stock To New Record Highs And Set New Standards In Data Analytics
Aug 12, 2024
Microsoft ( MSFT ) and Palantir Technologies ( PLTR ) have formed a partnership to incorporate Palantir ( PLTR )'s advanced AI analytics into Microsoft ( MSFT )'s Azure cloud platform. After a significant drop in stock value, Microsoft ( MSFT ) rebounded above the $400 level, indicating renewed optimism. Despite recent market fluctuations, Microsoft ( MSFT )'s strategic alliance with Palantir (...
Investment funds pour into Australian banks; caution on miners
Investment funds pour into Australian banks; caution on miners
Aug 12, 2024
(Reuters) - Australian financial stocks are ruling the roost on the traditionally miners-led local main index, fueled by growing interest from equity funds that are wary of the commodity-backed sector due to poor Chinese demand. The financial sub-index, composed chiefly of the biggest lenders in the region, has risen more than 15% this year. In contrast, the local metals and...
Top Midday Stories: Scotiabank Buys 15% Stake in KeyCorp for $2.8 Billion; B. Riley Shares Tank on Suspended Dividend, SEC Probe
Top Midday Stories: Scotiabank Buys 15% Stake in KeyCorp for $2.8 Billion; B. Riley Shares Tank on Suspended Dividend, SEC Probe
Aug 12, 2024
12:11 PM EDT, 08/12/2024 (MT Newswires) -- The S&P 500 and the Nasdaq Composite were trading in positive territory late Monday morning to kick off a new week that will feature a critical inflation data release, while the Dow Jones Industrial Average was basically flat. In company news, KeyCorp ( KEY ) secured a $2.8 billion investment from Bank of...
Israel shekel stumbles on Iran, Hezbollah attack concerns
Israel shekel stumbles on Iran, Hezbollah attack concerns
Aug 12, 2024
JERUSALEM, Aug 12 (Reuters) - Israel's shekel slipped as much as 1.7% against the dollar on Monday and Tel Aviv stocks shed more than 1% with investors becoming increasingly worried over a possible attack on Israel from Iran and Hezbollah. The shekel slumped to 3.7860 per dollar by 1556 GMT, a decline that saw the currency suffer its worst daily...
Copyright 2023-2025 - www.financetom.com All Rights Reserved