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Barchart
Barchart
Rich Asplund

Stocks See Support on Speculation Iran's Retaliation Will Be Limited

The S&P 500 Index ($SPX) (SPY) today is up +0.14%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.05%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.03%.  September E-mini S&P futures (ESU25) are up +0.20%, and September E-mini Nasdaq futures (NQU25) are up +0.14%. 

Stock index futures today are slightly higher on speculation that Iran's response to the US bombing of its nuclear sites is unlikely to significantly disrupt oil supplies from the Middle East.  WTI crude oil prices were up less than 1%, falling back from an overnight surge of more than +6% in initial reaction to the US strike on Iran's nuclear facilities. Today's stronger-than-expected June S&P US manufacturing report was also supportive for stocks.

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