June S&P 500 E-Mini futures (ESM26) are down -0.26%, and June Nasdaq 100 E-Mini futures (NQM26) are down -0.54% this morning, pointing to a lower open on Wall Street as oil prices and bond yields rose after fresh attacks in the Middle East cast doubt on whether an end to the war is imminent.
The price of WTI crude rose nearly +3% on Thursday amid renewed tensions in the Iran war. U.S. officials said American forces shot down Iranian drones and struck a drone-control facility near Bandar Abbas. The strikes followed Tehran’s launch of drones at American and commercial vessels in the Strait of Hormuz. U.S. authorities characterized the attacks as defensive. Meanwhile, Iran said it had targeted a U.S. airbase.