Global Markets:
- Asian Stock Markets : Nikkei down 2.25%, Shanghai Composite down 1.54% Hang Seng up 0.14% ASX down 0.06%
- Commodities : Gold at $4,071.30 (-1.03%) Silver at $58.695 (-2.45%), Brent Oil at 79.41 (4.46%), WTI Oil at $74.68 (4.57%)
- Rates : US 10-year yield at 4.585, UK 10-year yield at 4.8775, Germany 10-year yield at 3.0347
News & Data:
- (CAD) Employment Change 18.2K to 11.2K expected
- (CAD) Unemployment Rate 6.5% to 6.6% expected
Markets Update:
U.S. stock futures declined early Monday as investors monitored rising tensions in the Middle East and prepared for a busy week of corporate earnings and key inflation data.
Dow Jones Industrial Average futures fell 229 points, or 0.43%, while S&P 500 futures slipped 0.58%. Nasdaq-100 futures dropped 1.37%.
Over the weekend, Iran and the United States exchanged airstrikes. Tehran claimed it had targeted U.S. facilities in several Gulf countries and announced the closure of the Strait of Hormuz, though President Donald Trump rejected the claim, stating the vital shipping route remained open. Trump had ordered airstrikes on Iran following an attack on a commercial vessel passing through the strait.
Oil prices climbed as geopolitical risks intensified, with Brent crude rising 3.7% to $78.86 per barrel and West Texas Intermediate gaining more than 3% to $74.05.
Asian markets mostly ended lower. Japan’s Nikkei 225 fell 1.57%, while South Korea’s Kospi led regional losses. China’s CSI 300 also declined, although Hong Kong’s Hang Seng Index posted modest gains.
Investors are also focused on second-quarter earnings, with major U.S. banks, Netflix, Johnson & Johnson, and UnitedHealth set to report this week. Analysts expect S&P 500 earnings to have grown more than 23% year over year.
Attention will also turn to Tuesday’s U.S. Consumer Price Index (CPI) report, while technology stocks remain in focus as investors assess whether artificial intelligence will continue driving earnings growth.
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