Traders work on the floor of the New York Stock Exchange during morning trading on June 26, 2026 in New York City.
Michael M. Santiago | Getty Images
Stock futures fell Sunday night after the U.S. struck Iranian rocket launchers at Larak Island in the Strait of Hormuz, reigniting fears of an escalation.Dow Jones Industrial Average futures traded 85 points lower, or 0.16%. S&P 500 futures also slipped 0.2% along with Nasdaq-100 futures
In Asia, markets fell with South Korean equities leading declines in the region. The benchmark Kospi was down 3.5%. Japan’s Nikkei 225 fell 2.16%, while Australia’s S&P/ASX 200 lost 0.27%
Wall Street is about to wrap up a month of gains, led by the tech sector. The Dow is up 2.1% in August, on pace for its fifth consecutive monthly advance. The S&P 500 and Nasdaq Composite were headed for their first one-month increases since May, up 3% and 4%, respectively. Both the S&P 500 and Dow also reached all-time highs earlier in August
Tech led the charge this month, with artificial intelligence-linked stocks outperforming. The S&P 500 tech sector is up nearly 6% for the month. Nvidia has climbed more than 8%, while Microsoft and Micron Technology advanced 11% and 13%, respectively
To be sure, August has still been a turbulent month, as inflation fears sent Treasury yields to multiyear highs. The Treasury Department tried to stem the rout by saying it would increase debt repurchases, but yields along the long end of the curve remain elevated. Federal Reserve Chairman Kevin Warsh also said Friday he’s worried about inflation, noting that, “while this summer’s [inflation] readings were better than expected, they do not tell me that underlying trends have meaningfully improved.”
“Although we doubt this was intended to foreshadow September’s tightening given his distaste for signaling, his hawkish discussion makes a 25bp September hike more likely than not. Given his inflation metrics, our baseline calls for another in December,” wrote Barclays economist Jonathan Millar in a note
Heightened tensions in the Middle East also led to choppy trading in August. On Sunday, U.S. Central Command confirmed to MS NOW that the U.S. struck two rocket launchers on Iran’s Larak Island
Crude prices popped in early trading following the attack. U.S. oil traded 2.1% higher at $85.14 per barrel. Brent futures were up 2% at $89.90
Investors will get more insight into the state of the economy this week, with the August jobs report due Friday morning. Monthly manufacturing and services sector data is also on deck
37 Min Ago
South Korea’s Kospi drops over 3%, Japan’s Nikkei 225 opens 2% lower
Asia-Pacific markets fell on Monday, with South Korean equities leading declines in the region after U.S. forces struck two Iranian rocket launchers on Larak Island on Sunday
The benchmark Kospi was down 3.5%, while the small-cap Kosdaq declined 3.8%
Japan’s Nikkei 225 was down 2.16%, and the Topix was 0.95% lower. Australia’s S&P/ASX 200 lost 0.27%
1 Hour Ago
Asia markets set to fall as U.S. strikes Iranian rocket launchers in Strait of Hormuz
Asia-Pacific markets were set to fall Monday after the U.S. struck Iranian rocket launchers at Larak Island in the Strait of Hormuz, reigniting fears of an escalation
Japan’s Nikkei 225 was poised to drop, with the Chicago and Osaka futures contract at 65,530 and 65,830, respectively, compared with the index’s previous close of 66,405.56
Hong Kong’s Hang Seng index futures were at 25,472, compared with the index’s last close of 25,584.49
Futures for Australia’s S&P/ASX 200 last traded at 9,009, the index closed at 9,092.3
U.S. forces struck two Iranian rocket launchers on Larak Island on Sunday. Islamic Revolutionary Guard Corps were preparing rockets carrying sea mines for launch into the Strait of Hormuz, U.S. Central Command confirmed to MS NOW
“Last week, CENTCOM completed clearing sea mines from the strait’s international shipping routes. U.S. forces are monitoring the area closely and remain prepared to protect the free flow of commerce through this essential waterway,” he said
— Lee Ying Shan
3 Hours Ago
Jefferies ‘constructive’ on bond and stocks
Yields are near multiyear highs, and stock volatility has picked up. But Jefferies chief market strategist David Zervos isn’t worries
“I believe the Treasury has become the dominant policy actor in shaping financial conditions, leading me to remain constructive on bonds and equities as buybacks and potential curve-twisting operations provide a powerful market backstop,” he wrote. “Treasury intervention can help offset bond market disruptions, support a weaker dollar, and drive lower long-end yields, creating a favorable backdrop for risk assets.”
— Fred Imbert
3 Hours Ago
Stock futures open little changed
Dow Jones Industrial Average futures traded 63 points lower, of 0.1%. S&P 500 futures slipped 0.1%. Nasdaq-100 futures traded just above the flatline
— Fred Imbert
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