Market Updates

Pre-Market Report – Monday 23 June: US futures ease on Iranian bombing | Oil up slightly


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Wall Street edged down as the Israel-Iran conflict continued to weigh on markets. Iran said it would not discuss the future of its nuclear program while under attack by Israel. Will be the headlines for the foreseeable future. S&P 500 down 0.22%, down 0.15% this week. Nasdaq down 0.51%, up 0.21% this week. Dow rose at open, but fell throughout the day in a choppy session. Ended up 35 points, modest gains, closer to low than high. Mixed sector performance. Energy up despite oil paring its recent gains from Israel-Iran conflict. Defensives like Financials, Staples, Industrials and Utilities all saw gains as yields eased a little and the mood remained cautious. Tech worst performer, down just under 1%. Dragged down by Alphabet which fell 3.9% after a EU antitrust ruling said it subdued competition with its Android mobile operating system, fined $4.7Bn. Alphabet have appealed the decision. Nvidia also down 1.1% despite announcing talks with Foxconn to deploy humanoid robots at Houston factory.

SPI down 20 - US futures off around 0.3% this morning - Oil and Gold better.

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