Wall Street Futures Rise, Investors Wary of Middle East Conflict
US stock futures edged higher on Sunday evening. This increase occurred amid renewed tensions between the United States and Iran following a new attack in the Middle East that could potentially prolong the conflict.
Dow Jones Industrial Average futures rose 124 points, or around 0.2%. Meanwhile, S&P 500 futures rose 0.4%, and Nasdaq-100 futures rose 0.5%. These movements indicate the market is still trying to hold on, even though geopolitical risks are again overshadowing investor sentiment.
In Asia-Pacific, market movements tended to be mixed at the start of trading on Monday (June 29). Japan's Nikkei 225 fell 0.35%, while the Topix rose 0.43%. South Korea's Kospi fell 2.29% at the open, while the Kosdaq gained 0.97%. Australia's S&P/ASX 200 Index also rose 0.41%.
Tensions escalated after the United States attacked Iranian military targets over the weekend. The attack was said to be in retaliation for Tehran's actions around the Strait of Hormuz. President Donald Trump also issued a stern warning to Iran after accusing it of again violating the ceasefire agreement.
On the diplomatic front, a Pakistani source involved in the ceasefire talks stated that negotiations are currently on hold. However, several representatives remain in Switzerland so that talks can resume when the situation permits. This situation has market participants continuing to monitor potential disruptions to global energy supplies.
Crude oil prices rose in early trading amid concerns about supply disruptions. Brent rose 0.8% to US$72.57 per barrel, while West Texas Intermediate rose 1.1% to US$70 per barrel. On Wall Street, the previous week closed mixed as investors began to exit technology stocks. The S&P 500 and Nasdaq fell nearly 2% and 4.6%, respectively, while the Dow Jones Industrial Average rose 0.6%. As June came to a close, the S&P 500 was still down 3% for the month, the Nasdaq was down more than 6%, and the Dow was up more than 1%. (asd)
Source: Newsmaker.id
