Stocks may move to the downside in early trading on Tuesday, giving back ground following the rebound seen in the previous session. The major index futures are currently pointing to a lower open for the markets, with the S&P 500 futures down by 0.4 percent.
Traders may look to cash in on yesterday’s strong gains amid renewed concerns about the ongoing clash between Israel and Iran.
While reports hinting at an end to hostilities contributed to a rally on Monday, news that President Donald Trump left a G7 summit early to focus on the conflict has led to worries about further escalation.
In a post on Truth Social. Trump said French President Emmanuel Macron mistakenly said he left the summit in order to work on a cease fire between Israel and Iran.
“He has no idea why I am now on my way to Washington, but it certainly has nothing to do with a Cease Fire,” Trump said. “Much bigger than that.”
The downward momentum on Wall Street also comes following the release of a Commerce Department report showing U.S. retail sales fell by more than expected in the month of May.
The Commerce Department said retail sales slid by 0.9 percent in May after edging down by a revised 0.1 percent in April.
Economists had expected retail sales to decline by 0.6 percent compared to the 0.1 percent uptick originally reported for the previous month.
Excluding a steep drop in sales by motor vehicle and parts dealers, retail sales fell by 0.3 percent in May after coming in unchanged in April. Ex-auto sales were expected to inch up by 0.1 percent.
Shortly after the start of trading, the Federal Reserve is scheduled to release its repot on industrial production in the month of May. Industrial production is expected to inch up by 0.1 percent in May after coming in unchanged in April.
After moving sharply higher early in the session, stocks gave back some ground over the course of the trading day on Monday but continued to turn in a strong performance. With the upward move, the markets largely offset the steep losses seen during Friday’s session.
The major averages all ended the day firmly in positive territory, with the tech-heavy Nasdaq posting a standout gain. The Nasdaq jumped 294.39 points or 1.5 percent to 19,701.21, the S&P 500 advanced 56.14 points or 0.9 percent to 6,033.11 and the Dow climbed 317.30 points or 0.8 percent at 42,515.09.
In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Tuesday. Japan’s Nikkei 225 Index increased by 0.6 percent, while Hong Kong’s Hang Seng Index fell by 0.3 percent.
Meanwhile, the major European markets have all moved to the downside on the day. While the German DAX Index is down by 0.8 percent, the French CAC 40 Index is down by 0.6 percent and the U.K.’s FTSE 100 Index is down by 0.3 percent.
In commodities trading, crude oil futures are surging $1.17 to $72.94 a barrel after slumping $1.21 to $71.77 a barrel on Monday. Meanwhile, after tumbling $35.50 to $3,417.30 an ounce in the previous session, gold futures are slipping $7.80 to $3,409.50 an ounce.
On the currency front, the U.S. dollar is trading at 144.77 yen compared to the 144.75 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar unchanged compared to yesterday’s $1.1561.
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U.S. Stocks May Come Under Pressure As Israel-Iran Concerns Resurface
2025-06-17 12:54:49