Overnight Developments
Middle East tensions push oil higher — CNBC
Crude climbed roughly 4-5% overnight, with Brent trading near $98.61 and WTI breaking $90, after Iran-aligned Houthi forces struck two Saudi oil tankers in the Red Sea and President Trump threatened to bomb Iranian infrastructure over any interference with shipping through the Strait of Hormuz. The move rekindles inflation and shipping-cost concerns. Affected sectors: Energy, Transportation, Consumer, Utilities
New 50% tariff on Canadian imports — CNBC
The administration unveiled an additional 50% tariff on a range of Canadian goods, citing unfair trade practices. The measure adds fresh supply-chain and input-cost uncertainty for industrials, autos, and materials. Affected sectors: Industrials, Materials, Consumer
Futures & Pre-Market
| Index | Futures | Change |
|---|---|---|
| S&P 500 | 7,460.50 | +0.31% |
| NASDAQ | 28,645.25 | +0.56% |
| DOW | 52,171.00 | +0.53% |
US futures are pointing modestly higher despite the overnight geopolitical noise — strong tech earnings (led by Intel’s Q2 beat) appear to be offsetting tariff and oil concerns.
Watchlist Movers
- INTC −4.2% pre-market (~$100) — profit-taking after a strong Q2 earnings beat. Intel topped EPS and revenue estimates and guided Q3 above consensus, sending shares up ~9-12% in after-hours trading before pulling back at the open. Stock remains up sharply year-to-date.
International Markets
Asia sold off on the tariff and Middle East headlines: Nikkei 225 −2.56%, Shanghai Composite −1.63%, Hang Seng −0.98%. Europe is holding up better — DAX +1.05% and FTSE 100 +0.42%.
What to Watch at Open
Watch oil and energy names as the Red Sea situation develops — a sustained move above $100 Brent would pressure the broad tape. Keep an eye on Intel: whether the post-earnings pullback is a quick profit-taking dip or the start of a deeper fade will set the tone for semis.
This alert is for informational purposes only and does not constitute financial advice.