Global Markets:
- Asian Stock Markets : Nikkei down 0.23%, Shanghai Composite down 0.66% Hang Seng down 0.57% ASX down 0.39%
- Commodities : Gold at $4,023.35 (0.43%) Silver at $58.003 (0.04%), Brent Oil at 84.71 (1.70%), WTI Oil at $79.65 (1.92%)
- Rates : US 10-year yield at 4.622, UK 10-year yield at 4.9756, Germany 10-year yield at 3.0731
News & Data:
- (NZD) BusinessNZ Services Index 50.6 to 48.0 expected
Markets Update:
U.S. stock futures moved lower early Tuesday after Wall Street posted losses in the previous session as investors weighed escalating tensions between the United States and Iran while awaiting major corporate earnings and fresh inflation data.
Dow Jones futures fell 0.4%, while S&P 500 and Nasdaq-100 futures each slipped about 0.3% to 0.4%. Markets turned lower after President Donald Trump announced the reinstatement of a blockade on Iranian shipping through the Strait of Hormuz, triggering a sharp rally in oil prices. Brent crude jumped more than 9%, marking its biggest one-day gain since 2020. The S&P 500 declined 0.8%, the Nasdaq Composite fell 1.6%, and the Dow lost more than 100 points.
Asian markets traded mixed, with gains in Japan and South Korea offset by declines in Australia and Hong Kong. Treasury yields also climbed as investors worried higher oil prices could keep inflation elevated.
Attention now shifts to earnings from JPMorgan Chase, Goldman Sachs and Bank of America, due before the opening bell. Analysts expect S&P 500 companies to report second-quarter earnings growth of 23.6% compared with a year ago.
Investors are also awaiting June’s Consumer Price Index report, which could influence expectations for future Federal Reserve policy.
Meanwhile, Singapore’s economy grew 5.7% year over year in the second quarter, supported by strong manufacturing activity and exceeding economists’ expectations, ahead of the country’s upcoming monetary policy decision.
Upcoming Events:
- 12:30 PM GMT – USD Core CPI m/m
