Stocks futures tick higher despite the U.S. bombing of Iran as oil increase is muted: Live updates
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on June 18, 2025.
Timothy A. Clary | Afp | Getty Images
Stock futures rose slightly on Monday even after the United States entered Israel's war against Iran over the weekend by striking three nuclear sites as the increase in oil prices was relatively tame.
Futures tied to the Dow Jones Industrial Average rose by 49 points, or 0.1% after beginning the overnight session in the red. S&P 500 futures added 0.2% and Nasdaq-100 futures moved up 0.2%.
The U.S. launched attacks Saturday at Iranian sites in Fordo, Isfahan and Natanz, surprising investors who were expecting more diplomacy to possibly take place after Trump said on Friday that he would make a decision to attack Iran "within the next two weeks," according to the White House.
Oil prices had already spiked in recent weeks following the increased tensions in the Middle East. U.S. crude oil futures on Sunday night reached highs not seen since January before paring those gains. WTI was last just 0.4% higher at $74.15 per barrel.
Trump said in a Saturday evening speech from the White House after the attacks, that "there will be either peace, or there will be tragedy for Iran far greater than we have witnessed over the last eight days."
Now traders braced for Iran's retaliation with the hope that the country would not use an option that could risk a broader conflict and the removal of the regime there. Iran could target U.S. personnel in nearby bases or close the Strait of Hormuz, which would majorly disrupt global oil flows. A prolonged blocking of the strait could boost oil prices above $100 per barrel. In a Sunday interview, with Fox News, U.S. Secretary of State Marco Rubio called for the Chinese government to step in and prevent Iran from closing the key trade route. China remains Iran's most important oil customer.
"While Iran has flirted with closing the Strait of Hormuz, investors aren't terribly panicked about an oil market calamity, an equanimous view that's appropriate at this point," wrote Adam Crisafulli of Vital Knowledge in a Monday note. "Geopolitical risks are undoubtedly elevated in the Middle East right now, but our view remains that the extreme asymmetry of the conflict (with Iran's military capabilities, and those of its proxy partners, significantly degraded), coupled with Tehran's relative isolation (with few, if any, allies willing to come to its assistance) and ample global oil supplies, will help keep the fallout contained."
The S&P 500 lost 0.15% last week for its second negative week in a row. Despite this soft patch, the benchmark closed Friday about 3% from a record. A greater war in the Middle East adds another threat to the stock market and the economy, already dealing with a rushed remaking of global trade by Trump this year.
"Despite all the heat generated by Trump's tariff turmoil and now the war in the Middle East, the US economy continues to display its resilience, as it has over the previous three years when Russia invaded Ukraine and the Fed tightened monetary policy," wrote Ed Yardeni, president and chief investment strategist of Yardeni Research, in a Sunday note
Investors aren't worried about an 'oil market calamity,' says Vital Knowledge
The muted reaction in equity markets following the U.S. attacks on Iran shows investors aren't worried about a shock to the oil market, according to Adam Crisafulli of Vital Knowledge.
"While Iran has flirted with closing the Strait of Hormuz, investors aren't terribly panicked about an oil market calamity, an equanimous view that's appropriate at this point. Geopolitical risks are undoubtedly elevated in the Middle East right now, but our view remains that the extreme asymmetry of the conflict (with Iran's military capabilities, and those of its proxy partners, significantly degraded), coupled with Tehran's relative isolation (with few, if any, allies willing to come to its assistance) and ample global oil supplies, will help keep the fallout contained," he said.
"That doesn't mean markets are in the clear - once geopolitics fade from the headlines, US equities will need to reckon with a host of headwinds, including tariffs," he said.
— Fred Imbert
Defense stocks rise in premarket trade after U.S. strikes on Iran
Asia-Pacific markets mostly decline as U.S. bombing of Iran escalates Middle East crisis
Asia-Pacific markets mostly declined Monday, after the United States' attack on three nuclear sites in Iran raised oil prices and investors' fears of an escalation in the Middle East conflict.
Oil prices fell in late Asian hours, reversing course from gains earlier in the day.
Brent Crude was trading at $76.75 per barrel after falling 0.32% as of 4.23 p.m. Singapore time, while the West Texas Intermediate crude lost 0.33% to $73.6.
Japan's benchmark Nikkei 225 ended the day 0.13% lower at 38,354.09, while the broader Topix index moved down 0.36% to 2,761.18.
In South Korea, the Kospi index retreated 0.24% to close at 3,014.47, while the small-cap Kosdaq lost 0.85% to 784.79.
Hong Kong's Hang Seng Index moved up 0.67% to end the day at 23,689.13, while mainland China's CSI 300 index added 0.29% to 3,857.90.
Over in Australia, the S&P/ASX 200 ended the day 0.36% lower at 8,474.9.
India's benchmark Nifty 50 dropped 0.33%, while the BSE Sensex fell 0.44% as at 1.40 p.m. Indian Standard Time.
— Amala Balakrishner
Oil prices jump after Iran strikes raise fears of supply disruption
Helima Croft, RBC Capital Markets global head of commodity strategy, joins CNBC's "Special Report" to discuss the latest moves in the oil and energy markets following Washington's surprise attack against Iranian nuclear sites.
— Jeff Huang
Where the major averages stand for the month
The S&P 500 was the only major index to suffer losses last week
The S&P 500 was the only of the three major averages that ended last week lower.
- The benchmark fell 0.15%, marking its second negative week in a row for the first time since a two-week losing streak that ended on April 4.
- The Dow Jones Industrial Average rose 0.02% on the week, managing to claim its third positive week in four.
- The Nasdaq Composite added 0.21% for the week, also notching its third positive week out of four.
- The Russell 2000 gained 0.42% on the week, also marking its third positive week out of four.
— Christopher Hayes, Lisa Kailai Han
Bitcoin sinks below $99,000 as Iran attack triggers crypto market sell-off
Bitcoin dropped below the $99,000 mark on Sunday — its lowest point in more than a month — as the crypto market became the first to react to escalating geopolitical risk.
Bitcoin was trading around $99,380, down more than 2% over the past 24 hours, while ether had dropped 5% to below $2,200. Solana, XRP, and dogecoin also posted sharp losses, dragging the entire crypto complex deep into the red.
More than $1.04 billion flowed into spot bitcoin ETFs from Monday through Wednesday last week, according to data from CoinGlass. But those inflows collapsed heading into the weekend, with zero net movement Thursday and just $6.4 million on Friday — coinciding with President Donald Trump's early G7 departure and the announcement of a two-week review of U.S. options on Iran.
The technical breakdown added fuel to the selloff. At its peak on Sunday, more than $1 billion in crypto positions were liquidated during a 24-hour span — with over 95% coming from long bets, underscoring just how overexposed the market was heading into the weekend.
— MacKenzie Sigalos
Gulf markets end higher despite turmoil in wake of U.S. strikes on Iran
Markets across the Middle East ended mostly higher on Sunday after the United States entered the war between Israel and Iran.
Stocks in Tel Aviv reached an all-time high on bets Washington's entrance into the conflict with Tehran would help it to come to an end. The broader TA-125 index was 1.77% higher, while the TA-35, Tel Aviv's blue-chip index, was up 1.5%.
Egypt's benchmark EGX30 was the region's major gainer, up 2.7%.
"The Gulf has distanced itself and has been calling for appeasement, supporting a peaceful resolution, and has gone as far as condemning Israeli aggression," Fadi Arbid, founding partner and CIO of Amwal Capital Partners, told CNBC. He explained that such rhetoric "has helped the Gulf isolate itself from conflict" and any significant short-term market impact, adding that the net mid-term is positive.
— Emma Graham
Stock futures tumble on Sunday night
Latest World News copy
- Iran’s parliament backs blocking Strait of Hormuz. Its closure will alienate Tehran furtherThe Straits are the only sea route from the Persian Gulf to the open ocean, and about 20% of the world's oil transits the waterway.
- Russia watches on as ally Iran is pummeled — and it's unlikely to go to Tehran's rescueWhile Iran has helped ally Russia in its fight against Ukraine, there might be little that Moscow can or will do now to repay the favor.
- Dollar surge could be short-lived after U.S. strike on IranAnalysts say the dollar rally is masking concerns over U.S. fiscal policy, trade wars, and weakening international demand for U.S. assets.
- European markets start the week lower as Middle East crisis worsensJoin CNBC for live updates on European markets.
- NATO allies pledge to hike defense spending – but will they deliver?NATO meets for its annual summit this week, with allies being pushed and shoved to sharply increase their defense spending to 5% of gross domestic product.
- The Iran-Israel conflict isn't denting Chinese business optimism in the Middle East"Overall, Chinese merchants are relatively optimistic," says Bear Huo, China general manager at FundPark, a fintech startup.