The S&P 500 Index ($SPX) (SPY) on Tuesday closed down -0.37%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.18%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.77%. June E-mini S&P futures (ESM26) fell -0.35%, and June E-mini Nasdaq futures (NQM26) fell -0.77%.
Stocks settled lower on Tuesday as the war in Iran entered its 25th day. WTI crude oil jumped more than +4% Tuesday, and the 10-year T-note yield rose +4 bp to 4.38%. The strength in energy producers on Tuesday limited the downside in stocks. Renewed tensions risks are keeping oil prices elevated as Iran launched missile and drone strikes on Tuesday on several cities in Israel, as well as US bases in the Middle East. Saudi Arabia said it intercepted a drone in its eastern region, and Kuwait said some power lines were knocked out of service after an Iranian attack.
