U.S. stock futures slid on Thursday night as tensions in the Middle East worsened.
Futures tied to the Dow Jones Industrial Average lost 492 points, or 1.1%. S&P 500 futures dropped about 1.3%, while Nasdaq 100 futures lost 1.4%.
Stock futures fell as Israel’s defense minister Israel Katz declared a special state of emergency following an Israeli attack on Iran. Two U.S. officials said that there is no U.S. involvement or assistance, according to NBC News. Brent futures surged more than 5% on the development.
In Thursday’s regular session, the 30-stock Dow and the Nasdaq Composite each added 0.2%. The broad market S&P 500, which added nearly 0.4%, is creeping closer to the all-time high reached in February; it’s less than 2% off that level.
The May reading of the producer price index helped lift the major averages, reflecting a gain of 0.1% from the prior month. That’s cooler than the 0.2% increase economists polled by Dow Jones were seeking. Bond yields also eased, lifting investors’ sentiment. Earlier this week, the May consumer inflation report also came in cooler than anticipated.
Nevertheless, investors’ worries over the White House’s tariff policy kept a firm lid on market gains. Treasury Secretary Scott Bessent signaled on Wednesday that the Trump administration would be open to extending the current 90-day tariff pause beyond the July 9 deadline for top trading partners – if they show “good faith” in negotiations.
However, President Donald Trump raised fears of unilateral tariffs, telling reporters, “We’re dealing with Japan, we’re dealing with South Korea. We’re dealing with a lot of them. So we’re going to be sending letters out, in about a week and a half, two weeks, to countries, telling them what the deal is, like I did with EU.”
Stocks are on track for solid gains thus far this week, with the S&P 500 up nearly 0.8% and the Nasdaq Composite on pace for a 0.7% advance. The Dow is tracking for a 0.5% increase. All three are on pace for their third consecutive positive week.
On the economic front, investors will be waiting for the preliminary June reading of the University of Michigan’s consumer sentiment report.
Stock futures fall after Israel’s defense minister declares ‘special situation’ following attack on Iran
Stock futures tumble on Israel’s defense minister declares ‘special situation’ after attack on Iran.
U.S. stock futures turned lower on Thursday night after Israel’s defense minister Israel Katz declared a special state of emergency after an Israeli attack on Iran.
Dow futures tumbled 478 points, or 1.1%. S&P 500 futures fell 1.3%, and Nasdaq 100 futures lost 1.5%.
Brent crude futures also surged more than 5%.
Read more about the unfolding situation in the Middle East here.
—Darla Mercado
Individual investors are the least bearish since late January, AAII weekly survey shows
Only about a third of individual investors (33.6%) are bearish about the outlook for stocks over the next six months, the fewest since a January 22 reading of 29.4%, according to the latest weekly survey of sentiment by the American Association of Individual Investors.
Last week, 41.4% of Main Street investors characterized themselves as pessimistic about the short-term outlook for stocks. The historical average is 31%.
Bullishness, on the other hand, only rose to a three-week high of 36.7%, up from 32.7% last week and still below an historical average of 37.5%, the AAII said.
More investors described themselves as neutral about the outlook for stocks, 29.7%, than at any time since Feb. 19 — the same day the S&P 500 closed at an all-time high.
— Scott Schnipper
Big sector winners and losers this week
Energy has emerged as the top sector in the S&P 500 this week, toting a 3.9% advance through Thursday’s close. Top performers within the sector include ConocoPhillips, up about 8.6%; APA Corp, up 7.8%; and Halliburton with a 7.1% advance.
The industrials sector was at the bottom this week, on pace for a 0.7% decline. Top decliners in the space include United Airlines, off more than 8%, and GE Aerospace, which is on track for a 6.1% slide.
—Darla Mercado
Stock futures open little changed Thursday night
Stock futures were near the flatline on Thursday evening.
The S&P 500 futures opened 0.1% lower, as did the Nasdaq 100 futures. Dow futures lost 58 points, or 0.1%.
—Darla Mercado
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