After moving modestly higher over the course of the previous session, stocks are likely to show a significant move back to the downside in early trading on Friday. The major index futures are currently pointing to a notably lower open for the markets, with the S&P 500 futures down by 0.9 percent.
Geopolitical concerns are likely to weigh on Wall Street early in the session after Israel launched a series of airstrikes against Iran earlier this morning.
The Israeli airstrikes targeting nuclear facilities and ballistic missile factories killed at least three of Iran’s senior military leaders.
Iran retaliated by launching more than 100 drones toward Israeli territory, which the Israel Defense Forces said they are working to intercept.
The attacks have led the worries about a wider conflict, and the price of crude oil has spiked amid concerns about supply disruptions.
Responding to the news in a post on Truth Social, President Donald Trump urged Iran to reach a nuclear agreement before an escalation of the attacks.
“There has already been great death and destruction, but there is still time to make this slaughter, with the next already planned attacks being even more brutal, come to an end,” Trump said.
“Iran must make a deal, before there is nothing left, and save what was once known as the Iranian Empire,” he added. “No more death, no more destruction, JUST DO IT, BEFORE IT IS TOO LATE.”
Shortly after the start of trading, the University of Michigan is scheduled to release its preliminary report on consumer sentiment in the month of June. The consumer sentiment index is expected to rise to 53.5 in June after holding at 52.2 in May.
Stocks recovered from an early move to the downside to move modestly higher over the course of the trading session on Thursday. With the turnaround, the major averages largely offset the pullback seen during Wednesday’s session, with the Dow and the S&P 500 rebounding to three-month closing highs.
The S&P 500 ended the day up 23.02 points or 0.4 percent at 6,045.26, the Dow climbed 101.85 points or 0.2 percent to 42,967.62 and the Nasdaq rose 46.61 points or 0.2 percent to 19,662.48.
In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Thursday. Japan’s Nikkei 225 Index slid by 0.9 percent, while China’s Shanghai Composite Index fell by 0.8 percent.
The major European markets have also moved to the downside on the day. The German DAX Index is down by 1.1 percent, the French CAC 40 Index is down by 0.8 percent and the U.K.’s FTSE 100 Index is down by 0.1 percent.
In commodities trading, crude oil futures are soaring $5.49 to $73.53 a barrel after slipping $0.11 to $68.04 barrel on Thursday. Meanwhile, after surging $58.70 to $3,402.40 an ounce in the previous session, gold futures are jumping $45.70 to $3,448.10 an ounce.
On the currency front, the U.S. dollar is trading at 144.17 yen versus the 143.48 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.1520 compared to yesterday’s $1.1584.
U.S. Stocks Likely To Come Under Pressure After Israeli Airstrikes Against Iran
2025-06-13 12:49:14