U.S. Stock Futures Rise 0.5% as Iran Strikes Lift Oil Toward $73
Updated
Updated · CNBC · Jun 28
U.S. Stock Futures Rise 0.5% as Iran Strikes Lift Oil Toward $73
3 articles · Updated · CNBC · Jun 28
Summary
Nasdaq-100 futures rose 0.5%, S&P 500 futures gained 0.4% and Dow futures added 124 points after U.S. attacks on Iranian military targets renewed fears of a longer Middle East conflict.
Brent crude climbed 0.8% to $72.57 a barrel and WTI rose 1.1% to $70 as traders weighed possible disruption around the Strait of Hormuz.
Trump said U.S. aircraft struck Iranian missile and drone storage sites and coastal radar after Tehran allegedly violated a ceasefire agreement; a Pakistani source said talks are on hold, though representatives remain in Switzerland.
The rebound follows a mixed week in which the S&P 500 fell nearly 2% and the Nasdaq lost 4.6% as investors rotated out of tech, while the Dow gained 0.6%.
June is still weak overall: the S&P 500 is down 3% for the month, the Nasdaq has dropped more than 6%, and the Dow is up more than 1%.
As 'AI Fatigue' spooks investors, can the global race for 'Sovereign AI' finally prove the technology's massive spending is justified?
Is the tech sell-off a simple correction, or is 'creative destruction' ending the reign of today's tech giants?
With the worst oil crisis in history unfolding, is a global recession now inevitable?
Oil Prices Spike 40% and Global Markets Roil After U.S.-Israeli Strikes on Iran: Economic and Investment Impacts
Overview
On March 1, 2026, joint U.S.-Israeli strikes on Iran triggered a dramatic surge in global energy prices and widespread financial market volatility. Brent crude oil prices spiked over 40%, and West Texas Intermediate futures soared nearly 50%. The effective closure of the Strait of Hormuz, a key oil shipping route, worsened supply constraints and forced importers to seek alternative sources at much higher prices. This immediate disruption rippled through global markets, causing sharp swings in stocks, bonds, and commodities, and set off a chain reaction of inflation and economic uncertainty worldwide.