Stock market today: Dow, S&P 500, Nasdaq futures slip as US and Iran exchange fire, oil jumps

Contracts connected the Dow Jones Industrial Average (YM=F) declined by little than 0.1%. S&P 500 futures (ES=F) dropped astir 0.3%, portion Nasdaq 100 (NQ=F) futures led the declines, falling 0.8%, aft the 2 indexes eked retired gains past week.

Markets were connected borderline aft the US renewed strikes adjacent the Strait of Hormuz implicit the weekend, and Iran retaliated with caller strikes against US allies, including Kuwait, Jordan, and Qatar. The flare-up threatened to derail talks betwixt the US and Iran to extremity the war, which President Trump stated were ongoing adjacent arsenic helium said helium considers the ceasefire "over."

Oil prices jumped, with Brent crude (BZ=F) nearing $80 per tube again, aft the IRGC said "the Strait of Hormuz volition beryllium closed until further notice" and that it would not let vessels to transit the strait "until the extremity of the American interventions successful this area." Though the US insisted that the strait remains open.

The resumption of hostilities successful the portion revived ostentation worries conscionable arsenic the marketplace is acceptable to person 2 important ostentation reports this week: the Consumer Price Index connected Tuesday and the Producer Price Index connected Wednesday. The readings volition supply caller signals connected the likelihood of Fed involvement complaint hikes this year.

Investors besides look guardant to the unofficial kick-off of net play this week, led by large slope results from JPMorgan Chase (JPM), Goldman Sachs (GS), Bank of America (BAC), and more. Taiwan Semiconductor Manufacturing Company's (TSM) quarterly results volition supply a awesome connected AI demand, and Netflix (NFLX) and Dow constituent UnitedHealth (UNH) volition also report.