People work on the floor of the New York Stock Exchange (NYSE) on July 7, 2026 in New York City.
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Stock futures were mostly flat on Tuesday as investors factored in rising tensions in the Middle East and soaring oil prices. They also looked at the minutes of the Federal Reserve’s most recent policy meeting.
futures of Dow Jones Industrial Average Down 9 points. S&P500 futures and Nasdaq 100 futures Both fell about 0.1%.
The United States launched a “series of powerful strikes” against Iran on Tuesday night in retaliation for attacks on three commercial ships sailing through the Strait of Hormuz, according to U.S. Central Command. Earlier, the Treasury Department revoked permits that allowed Iran to sell oil around the world in light of the attacks in the Strait of Hormuz. West Texas Intermediate crude oil futures recently rose more than 2%, topping $72 a barrel.
In regular trading on Tuesday, investors shed investments in artificial intelligence stocks as rising oil prices weighed on market conditions. 30 shares Dow It fell more than 100 points after setting a new intraday record earlier. of S&P500 While the decline was 0.5%, Nasdaq Composite Chipmakers led the decline, falling 1.2%.
Investor attention now turns to the June Federal Open Market Committee meeting scheduled for Wednesday at 2pm ET. The announcement is expected to provide more insight into Federal Reserve Chairman Kevin Warsh’s first policy meeting, where officials left rates unchanged while suggesting further rate hikes could be warranted if inflationary pressures persist.
“The FOMC minutes will be a wild card as Mr. Warsh has been very opaque in his most recent press conference,” Adam Crisafulli, founder of Vital Knowledge, said in a note. “Normally Mr. (Jerome) Powell provides a fairly comprehensive account of the discussion of the meeting, but that was not the case with Mr. Warsh. So there may be some surprises in the minutes, which are likely to have a hawkish tone.”
—CNBC’s Garrett Downs contributed reporting.
