The S&P 500 Index ($SPX) (SPY) today is down -0.35%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.75%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.23%. June E-mini S&P futures (ESM26) are down -0.44%, and June E-mini Nasdaq futures (NQM26) are down -0.37%.
Stock indexes gave up an early advance and turned lower as Middle East tensions flared up after the United Arab Emirates (UAE) said an Iranian drone attack caused a fire at the Fujairah oil industry zone. The UAE also issued a missile threat warning after an oil tanker was struck by Iranian drones outside the Strait of Hormuz. Stocks initially moved higher today, with the Nasdaq 100 posting a new all-time high. Signs of corporate resilience are boosting stocks on optimism that AI investment will continue to fuel earnings growth. AI-infrastructure stocks and software companies are leading the broader market higher. Stocks added to their gains after US March factory orders rose more than expected, a sign of economic strength.
