US equity futures are lower. Asian markets were mostly weaker overnight and European futures are also pointing lower. The central theme is escalating Middle East tensions and their inflation spillover. Oil has surged as the Strait of Hormuz remains effectively closed, with Iranian leadership vowing to maintain the blockade and President Trump stating regime change is a bigger priority than energy prices. Despite temporary measures such as a Jones Act waiver and approval of Russian oil cargoes already at sea, energy inflation fears are pushing yields higher and flattening the Fed rate-cut path, with futures now pricing less than 20 basis points of easing through year-end. Private credit remains another overhang after additional redemption limits and reduced lending activity, while new Section 301 trade investigations have revived tariff concerns ahead of Trump’s upcoming Beijing visit.

Companies Mentioned: NVIDIA, SpaceX, Meta Platforms

US equity futures are sharply lower, with the S&P down around 0.4%. Asian markets fell overnight and European futures are also pointing to losses as oil prices rebound toward the 100 dollar per barrel level. The dominant theme remains escalating Middle East tensions and their inflation impact. Oil has rebounded sharply despite the IEA proposing a coordinated release of 400 million barrels from strategic reserves, as Iran threatens to block the Strait of Hormuz and US officials signal at least two more weeks of operations. Higher crude is driving yields up and flattening the Fed rate-cut path, with markets now pricing only about 30 basis points of easing through year-end, a fresh year-to-date low.

Companies Mentioned: Apple, Caesars Entertainment, GLP Pte

S&P futures are slightly higher as of now. Oil price volatility and geopolitical risks in the Middle East remain key drivers of global sentiment. Asian equities advanced today, led by a +1.4% gain in Japan’s Nikkei. South Korea and Taiwan posted strong gains, driven by chipmakers and AI demand optimism. Mainland China and Hong Kong were near flat. European equity futures point to a slightly lower open.

Companies Mentioned: OpenAI, Google, Microsoft, Paypay, Chevron, Shell

S&P futures are up +0.3% right now as risk sentiment improves amid hopes for de-escalation in the Iran conflict. Asian equities rallied today, supported by a sharp correction in crude prices. Japan's Nikkei advanced +2.8%, followed by Hong Kong's Hang Seng, which closed near +2% higher. South Korea and Taiwan also saw strong gains, while India posted more modest increases. European equity futures point to a strong start, with major benchmarks all up over +1%. This follows Monday’s losses, where the energy sector was the only performer in the black.

Companies Mentioned: Anthropic, Disney, Apple, NVIDIA

US futures are lower, but off their low points, with S&P down ~1.5%, following lower close on Friday, ending not far from worst levels, with major indices posting sharp weekly declines. US dollar is lower against Loonie but higher elsewhere. Bonds lower. Treasury yields higher across the board. Bund up ~3bps to 2.89% while Gilts little changed at 4.57%. Brent crude higher, peaked at $116/bbl; WTI also above $100/bbl. However, both well off earlier highs. Precious metals lower. Base metals mixed. Bitcoin lower. Brent crude forwards surged 18%, WTI up more than 20% in early Monday trading with both blends trading at $110/bl, first time crude prices traded near $100 since start of Covid pandemic. Sharp increase came after Israel attacked Iranian oil facilities, other middle east oil producers said they would curtail output, and as shipments through Strait of Hormuz ground to standstill.

Companies Mentioned: KKR&Co., Agilent Technologies, Hims&Her Health

S&P futures are down (0.3%) and pointing to a slightly lower open today. Asian markets traded mixed on Friday, with Hong Kong the notable outperformer. Mainland China and Japan were modestly higher, South Korea and Singapore finished flat, and Australia underperformed. Indonesia saw the sharpest losses after Fitch downgraded its credit outlook. European markets are higher but remain on track for their worst weekly performance in a year, as energy price concerns and inflation risks dominate.

Companies Mentioned: Whitestone REIT, UniFirst, Inspire Brands

US equity futures lower with S&P slightly down. Bonds weaker with US Treasury yields up 3bps. Benchmark Gilt yield is flat in choppy trade. Dollar is firmer. Crude is firmer again. Gold up. Industrial metals mixed. Bitcoin gains. Markets remain focused on energy disruption headlines with articles discussing stag-flationary risks for global economy. Latest Middle East reports highlighted Iranian outreach for talks (later denied), while shifting war aims or timelines remain a source of uncertainty. Iranian attacks on Middle East energy facilities and Hormuz traffic slowdown continue to fan energy supply concerns with Reuters noting Qatar won't return to normal LNG production for at least a month.

Companies Mentioned: Senior PLC, TPG Inc, Morgan Stanley

S&P futures are still lower today but well off their troughs, currently down (0.3%), as geopolitical tensions in the Middle East continue to weigh on global market sentiment. Asian markets plummeted for the third consecutive day, with the MSCI Asia-Pacific ex-Japan index down (4.2%). South Korea's Kospi crashed (12%) in panic selling. Japan’s Nikkei and Topix were both down near (4%). Greater China and Southeast Asia also saw widespread declines, with Thailand triggering a trading halt. European markets are bucking the trend with following two sessions of steep losses.

Companies Mentioned: Meta, News Corp, Microsoft, OpenAI

S&P futures are sharply lower, down (1.5%), as markets react to escalating geopolitical tensions in the Middle East and spike in energy prices. Asian markets saw steep losses today. South Korea’s Kospi faced the sharpest declines amid heavy selling in technology stocks, and Japan's Nikkei fell over (3%). Greater China markets recorded milder losses but Hong Kong's tech sector also saw similar dips. European benchmarks are all down over (2%) in early trading. Energy stocks are providing some support, while technology and consumer discretionary sectors are leading the declines.

Companies Mentioned: Warner Bros. Discovery, NVIDIA, Select Medical Holdings

US equity futures are under pressure with S&P down . Bonds mixed. US 10-year yield is firmer at 4%. Gilts off 1 bps at 4.3%. Dollar is mostly firmer, though off session highs in overnight trade. Oil sharply higher with WTI crude up around 7.5%. European gas prices more than 20% higher. Gold and silver gain. Industrial metals firmer. Bitcoin lower. US and Israel launched air strikes against Iran that targeted military assets, government and IRGC facilities and missile bases, killing Supreme Leader Khamanei and several high-level officials. Trump is optimistic about war's progress, mentioning offramps and claiming Iran's new leaders in talks. Media sources also note Iran's security chief has reached out for fresh nuclear talks. Iran has widened retaliation to Gulf states, resulting in airport shutdowns. Conflict has also disrupted shipping through Strait of Hormuz though oil price impact subject to multiple variables.

Companies Mentioned: Paramount Skydance, Warner Bros. Discovery