U.S. stock futures remain unfazed by President Donald Trump’s calls for an “Unconditional Surrender” by Iran on Tuesday night, as tensions continued to flare in the Middle East.
Starting with the S&P 500 Futures, which trades at 6,045.00, up 0.11%, followed by Nasdaq Futures at 21,986.00, up 0.14%, and Dow Jones Futures up 0.06%, trading at 42,581.00, at the time of writing this.
Stock futures are largely flat despite escalating tensions between the United States and Israel versus Iran, amid Trump’s increasingly fiery rhetoric, stating that the U.S. knows exactly where Iran’s “Supreme Leader” was hiding, and adding that he was an “easy target,” in a Truth Social post on Tuesday.
In a subsequent post, Trump once again did not mince words and called for an “UNCONDITIONAL SURRENDER!” by Iran. This comes just a day after he said that a cease-fire between Israel and Iran was not on the table, and that he was seeking “a real end” to Iran’s nuclear issue.
Defense stocks and ETFs have continued to rally after hours, as tensions continued to escalate, with California-based Kratos Defense & Security Solutions Inc. KTOS, which provides defense engineering and communications solutions, rising 0.60% after hours.
Others, such as Israel’s Elbit Systems Ltd. ESLT and RTX Corp. RTX, have rallied by 1.12%% and 0.60%, respectively, in after-hours trading.
| Stock | After-Hours | Month-To-Date | Year-To-Date |
|---|---|---|---|
| Elbit Systems Ltd. ESLT | +1.12% | +10.81% | +73.00% |
| Kratos Defense & Security Solutions Inc. KTOS | +0.60% | +17.18% | +63.87% |
| Northrop Grumman Corp. NOC | +0.60% | +3.96% | +7.68% |
| RTX Corp. RTX | +0.72% | +8.79% | +27.99% |
| Lockheed Martin Corp. LMT | +1.06% | -0.63% | -0.60% |
| ETF | Month-To-Date | Year-To-Date |
| Global X Defense Tech ETF SHLD | +3.03% | +57.56% |
| iShares U.S. Aerospace & Defense ETF ITA | +1.54% | +24.24% |
Asian markets opened higher on Wednesday, with Japan’s Benchmark Nikkei 225 up 0.71% in early morning trade, at 38,808, with companies focused on the domestic market leading the way.
Brent crude oil futures are down 0.04%, trading at 76.40 a barrel, marking a steep 19% ascent since the beginning of this month, after hitting a 52-week low of $58.4 a barrel in early May.
The U.S. Dollar Index (DXY) is holding steady at 98.724, down 0.10%, even as volatilities and geopolitical risks continue to weigh.
Investors on Wednesday will be closely watching the outcome of the FOMC meeting, followed by a press conference by Federal Reserve Chair Jerome Powell. Investors will also be keenly eyeing the Initial Jobless Claims, Housing Starts, and Building Permit reports during the day.
Photo Courtesy: Gumbariya on Shutterstock.com
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