Stock market today: S&P 500, Nasdaq, Dow futures climb as a halt to US-Iranian attacks is called
US stock futures climbed following the latest cycle of reports that peace has been brokered between US-Iran after attacks broke out over the weekend.
Futures linked to the S&P 500 (ES=F) climbed 0.5%, Nasdaq 100 (NQ=F) futures rose 0.6%, and contracts tied to the Dow Jones Industrial Average (YM=F) inched up 0.3%.
Markets headed into a holiday-shortened week on edge after the US launched strikes on Iranian military targets over the weekend, escalating tensions in the Middle East and renewing concerns over global energy supplies.
The strikes came after Washington said Tehran carried out attacks along the Strait of Hormuz. President Donald Trump later warned of further military action, writing on Truth Social the US may “militarily complete the job that we very successfully started. If that happens, the Islamic Republic of Iran will no longer exist!”
Oil prices moved higher in early trading as investors assessed the risk of further disruptions to crude supplies. Brent (BZ=F) crude gained 0.8% to $72 a barrel, while U.S. West Texas Intermediate (CL=F) crude rose 1.1% to $70.
The strikes further destabilized already rocky markets, the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) fell nearly 2% and 4.6% last week. Nvidia (NVDA) and Alphabet (GOOG) each dropped more than 8%, while Meta (META), Apple (AAPL) and Amazon (AMZN) declined more than 4%. SpaceX (SPCX) shares plunged 17%.
The Dow Jones Industrial Average outperformed, rising 0.6% as healthcare stocks provided support. Merck (MRK) climbed 13% during the week, while Johnson & Johnson (JNJ) gained 11.5%.
Due to the holiday for July 4, this week will see the release of the June jobs report on Thursday, not Friday.
