The S&P 500 Index is down -0.88%, the Dow Jones down -1.14%, and the Nasdaq 100 down -1.06%. Following Israel’s military attacks on Iranian nuclear and missile sites, which struck about 100 targets and resulted in the deaths of key Iranian military figures, the markets reacted negatively. Iranian forces retaliated with a drone attack on Israel.
Israeli Prime Minister Netanyahu indicated that strikes would continue indefinitely, while President Trump emphasized the urgency for Iran to negotiate a nuclear deal. Concurrently, oil prices surged by +13% before settling at around +7%, raising concerns over potential economic disruptions. The June University of Michigan consumer sentiment index rose to 60.5, exceeding forecasts, and inflation expectations showed some decline.
Defensive stocks, including oil and defense contractors, saw gains amid the conflict, with Exxon rising by +2% and Lockheed Martin by +3.4%. Conversely, travel stocks fell due to concerns over an extended conflict, with major airlines like American Airlines and United Airlines each down around -4%.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
