Pre-Market

Overnight Developments US and Iran Trade Attacks Over the Strait of Hormuz — Al Jazeera / BNN Bloomberg The US launched several waves of strikes on Iran into Monday morning after an Iranian attack on a container ship in the Strait of Hormuz over the weekend left the vessel ablaze and a crew member missing. Iran retaliated with missiles and drones targeting countries across the Gulf and declared the Strait closed “until further notice” — a claim US Central Command has rejected. Brent crude jumped roughly 4% to ~$78.85/barrel, its highest since June 22, and maritime traffic through the world’s most important oil chokepoint has fallen sharply. ...

Overnight Developments U.S. Launches Fresh Strikes on Iran; Trump Calls Truce “Over” — Bloomberg / Al Jazeera The United States launched new airstrikes against Iran early Thursday, and Tehran responded by targeting Gulf countries in a renewed exchange of fire. The strikes follow days of escalation after attacks on shipping in the Strait of Hormuz, with President Trump declaring the June memorandum of understanding effectively over. This is a live armed-conflict situation with direct implications for oil transit through the world’s most important energy chokepoint. ...

Overnight Developments Global markets are in a broad risk-off session. US futures are sharply lower, Asia and Europe sold off overnight, and two distinct catalysts are driving the move: a fresh Middle East military escalation and a semiconductor-led tech pullback out of Asia. Iran ceasefire collapses, US–Iran strikes resume — TheStreet / CNN President Trump declared the Iran ceasefire “over” after both sides exchanged strikes overnight. The US reportedly hit 80+ Iranian targets and revoked oil-sale waivers, reimposing sanctions, while Iran’s IRGC struck US positions in Bahrain and Kuwait. The escalation drove crude higher and triggered a flight from risk assets. Affected sectors: Energy, Defense, Financials, Tech. ...

Overnight Developments No fresh geopolitical or macro shock hit overnight — broad index futures are flat-to-higher. The story this morning is a split inside the semiconductor complex. Micron’s post-close earnings (June 24) lit a fire under Asian chip names — the Nikkei 225 surged +4.46% — yet several of our watchlist semis are trading lower on what looks like a continued rotation tied to AI-spending and valuation concerns rather than any single headline. Treat the watchlist moves below as the actionable item, not a market-wide event. ...

Overnight Developments Asian Tech Rout Spreads to US Futures; Kospi Crashes 10% — CNBC / Bloomberg A semiconductor-led selloff swept across Asia overnight. South Korea’s Kospi plunged roughly 10%, with SK Hynix and Samsung each down more than 12%, as investors repriced AI/chip valuations and questioned the sustainability of the capex cycle. The weakness cascaded into Japan (Nikkei -3.65%), Hong Kong (Hang Seng -1.82%), and US futures. This is a valuation/sector reset rather than a discrete policy shock — no new tariffs, central bank surprises, or geopolitical escalations were reported. ...

Overnight Developments US-Iran Peace Agreement Announced — Share Talk A tentative US-Iran peace agreement was announced overnight, easing one of the market’s larger geopolitical risk factors. Oil slid below $80/barrel on expectations that Middle East energy exports normalize. Risk-off hedges in energy and defense may unwind as the session opens. Affected sectors: Energy, Geopolitical risk, Emerging markets. Fed Decision Today — Warsh’s First FOMC — Federal Reserve The June FOMC decision lands today at 2:00 PM ET — Chair Kevin Warsh’s first meeting. CME FedWatch puts ~97% odds on rates held at 3.50–3.75%, so the focus is on forward guidance and the reported removal of the dot plot. Expect muted trading until the statement and press conference. Affected sectors: All sectors, Fixed income. ...

Overnight Developments Bank of Japan Raises Rates to 1.0% — Share Talk The BoJ lifted its policy rate by 25 basis points to 1.0% overnight — a notable hawkish step that widens the gap from years of ultra-loose policy. Watch for renewed yen strength and any spillover into the yen carry trade, which has rattled global equities on prior BoJ surprises. US futures are so far shrugging it off. Affected sectors: Financials, Technology, Energy ...

Overnight Developments U.S.-Iran Peace Deal Ends War, Strait of Hormuz to Reopen — CNBC / Bloomberg The United States and Iran announced a tentative peace deal to end armed conflict, with the strategically critical Strait of Hormuz set to reopen. The de-escalation removes a major tail risk that had been pricing into markets and eases energy supply fears. Brent crude tumbled toward three-month lows (~$83/bbl), and global equities staged a broad relief rally — Japan’s Nikkei surged nearly 5% overnight. ...

Overnight Developments U.S.-Iran Peace Deal Breakthrough — TheStreet President Trump canceled planned strikes on Iran and announced a peace deal — expected to be finalized as soon as Sunday — that would end the conflict and reopen the Strait of Hormuz. The framework reportedly pairs a U.S. commitment to lift oil sanctions with Iran’s pledge to reopen the trade route within 30 days. The de-escalation triggered a global risk-on rally across Asia and Europe overnight. Affected sectors: Energy, Transportation, Aerospace, Global Trade ...

Overnight Developments U.S. Strikes Iran; Tehran Declares Strait of Hormuz Closed — Arab News / CNBC The U.S. military launched strikes on multiple Iranian targets — reportedly firing 49 Tomahawk missiles — after President Trump vowed to respond to the downing of a U.S. Apache helicopter. In response, Iran’s joint military command declared the Strait of Hormuz closed to oil tankers and commercial shipping, warning any vessel attempting passage would be fired on. The IEA has characterized the resulting disruption as the largest in the history of the global oil market. Brent crude is hovering near $92/barrel; oil pared some gains in early Thursday trade as traders weighed supply-disruption risk against headline fatigue. Affected sectors: Energy, Defense, Airlines, Transports, Materials ...