Tech news in 3 minutes
Stock futures rise, Asia mixed as renewed U.S.-Iran strikes push oil prices higher
Stock futures edged higher Sunday evening as U.S.-Iran tensions escalated after renewed attacks in the Middle East. Dow Jones Industrial Average futures rose 124 points (0.2%), S&P 500 futures gained 0.4%, and Nasdaq-100 futures advanced 0.5%. Asia-Pacific markets traded mixed Monday: Japan's Nikkei 225 slipped 0.35%, while the Topix rose 0.43%; South Korea's Kospi dropped 2.29%, but the Kosdaq added 0.97%; Australia's S&P/ASX 200 rose 0.41%. The U.S. attacked Iranian military targets over the weekend in retaliation for Iranian strikes along the Strait of Hormuz. President Donald Trump threatened to annihilate Iran, stating in a Truth Social post that U.S. aircraft struck Iranian missile and drone storage locations and coastal radar sites for violating the ceasefire agreement. A Pakistani source involved in peace talks told MS NOW that negotiations are on hold, though all sides keep representatives in Switzerland to resume discussions. Crude prices rose Sunday: Brent climbed 0.8% to $72.57 per barrel, and West Texas Intermediate advanced 1.1% to $70. Wall Street ended a mixed week, with a rotation out of tech. The S&P 500 and Nasdaq Composite shed nearly 2% and 4.6%, respectively, as Nvidia and Alphabet lost over 8% each, and Meta, Apple, Amazon dropped more than 4% each. SpaceX tumbled 17%. The Dow, less tech-exposed, rose 0.6%, led by Merck (up 13%) and Johnson & Johnson (up 11.5%). Yardeni Research president Ed Yardeni cited "AI Fatigue," noting investors question whether hyperscalers' massive AI spending will pay off and fear rapid obsolescence. As June trading ends, the S&P 500 is down 3% for the month, the Nasdaq fell over 6%, while the Dow climbed over 1%.