US Futures Drop, Oil Surges on Middle East Escalation
U.S. stock index futures fell about 0.3% as markets reopened after Israel's attack on Beirut and Iran's retaliation, while crude oil jumped over 3%.
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U.S. equity futures declined as trading resumed following escalations in the Middle East. The S&P 500, Nasdaq 100, and Dow Jones futures each slipped 0.3%.
In contrast, energy prices surged: WTI crude rose 4.0% and Brent added 3.5%. Silver fell 2.0% amid risk-off flows.
The moves reflect growing concern that the Iran-war ceasefire is unraveling after Israel's strike on Beirut and Iran's retaliatory actions.
Source: The Kobeissi Letter