The S&P 500 Index ($SPX) (SPY) today is down -0.04%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.23%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.18%. June E-mini S&P futures (ESM26) are down -0.08%, and June E-mini Nasdaq futures (NQM26) are down -0.20%.
Stock indexes are moving lower today, giving back some of Wednesday’s sharp gains, as optimism fades over the sustainability of the US-Iran ceasefire. Crude oil prices jumped more than +5% today as the Strait of Hormuz remains largely blocked, and Israeli attacks on Lebanon threaten to derail the fragile ceasefire. The US and Iran both accused each other of violating the ceasefire, with a key disagreement over whether the truce extends to Lebanon. President Trump pledged to keep US troops in the Persian Gulf ahead of Saturday’s talks with Iran, while Iran warned there may be mines in the strait.
