Stock market today: Dow, S&P 500, Nasdaq futures sink as Israel strike on Iran sends oil soaring

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US stock futures sank on Friday as Israel's attack on Iran shook global markets, leading oil prices to spike after Iran reportedly described the strike a "declaration of war".

Dow Jones Industrial Average futures tumbled roughly 1.2% as investors lost their appetite for riskier assets. S&P 500 futures also dropped 1.2%, while those attached to the tech-heavy Nasdaq 100 dived 1.5%. Yahoo Finance reports.

💲Dollar rallies amid safe-haven rush after Israel strikes Iran: The U.S. dollar finally rallied on Friday — after trading around a three-year low the previous day — as investors moved into safe-haven assets following a series of Israeli airstrikes on Iran.

The scale of the attack, which marks a major escalation of conflict in the region, took markets by surprise, pushing up the price of the dollar and other assets thought to offer protection in times of heightened volatility. The dollar index, which measures the greenback against a basket of major peers, was last seen 0.6% higher on Friday morning, trading around 98.48. CNBC reports.

🛢️Oil prices jump more than 8% on the heels of Israeli strikes: Crude futures jumped more than $5 per barrel on Friday morning after Israel launched airstrikes against Iran without U.S. support, drawing concerns over the supply outlook from the oil-rich Middle East region.

Global benchmark Brent futures with August delivery rose 8.1% to $75.01 per barrel at 11:53 a.m. London time, up more than $5.6 for the session. The U.S. West Texas Intermediate contract with July expiry was last up 8.5% at $73.85 per barrel. CNBC reports.

☁️ Deutsche Telekom, Nvidia to build AI cloud for industry in Germany: Deutsche Telekom and Nvidia will join forces to build an industrial artificial intelligence cloud for European manufacturers in Germany, the first of its kind, the companies said on Friday.

Implementation of the industrial AI cloud is to take place by 2026 at the latest, they said in a statement. Nvidia CEO Jensen Huang announced the planned site in Germany earlier this week and met with German Chancellor Friedrich Merz on Friday. Yahoo Finance reports.

🥩 Brazil beef barons' Wall Street listing caps a return from exile: Brazilian meatpacker JBS begins trading on the New York Stock Exchange on Friday, capping a stunning comeback by brothers Joesley and Wesley Batista less than a decade after they were jailed in a record-breaking corruption scandal and forced into the backseat of their global food empire.

A U.S. listing for the world's biggest meatpacker, which the company has sought since 2009, comes as the brothers, now back on the board of JBS, have also recovered much of their vaunted influence among Brazil's political elite. Yahoo Finance reports.

🤖 Meta’s effort to revamp AI takes shape with reported $14.3 billion investment in Scale AI: Meta Platform Chief Executive Mark Zuckerberg’s efforts to shape up the company’s artificial-intelligence ambitions took a step forward with an investment in ScaleAI and the poaching of its founder.

Meta’s investment values the data-labeling AI startup at over $29 billion, that company said in a blog post on Thursday, while Bloomberg reported that the cost of Meta’s investment in Scale AI was $14.3 billion, citing sources. Bloomberg had previously reported that Scale and Meta were in talks. MarketWatch reports.

📱Apple's iPhones Top Smartphone Sales in China: Apple's iPhones were the best-selling smartphones in China last month, according to a closely followed research firm, marking a turnaround after continued market-share losses and stiff competition from local rivals such as Huawei. iPhone sales in the U.S. and China--Apple's two largest markets--returned to growth for the April-May period following three years of declines, preliminary data from Counterpoint Research showed on Friday.

The numbers are an early indication that Apple's efforts to boost sales in the world's largest smartphone market are working. In May, Chinese e-commerce platforms including Alibaba's Taobao and Tmall offered steep discounts on the iPhone 16 as the U.S. tech giant's sales slowed amid competition from local players. MarketScreener reports.

💻 AMD turns to AI startups to inform chip, software design: Advanced Micro Devices has forged close ties to a batch of artificial intelligence startups as part of the company's effort to bolster its software and forge superior chip designs. As AI companies seek alternatives to Nvidia's chips, AMD has begun to expand its plans to build a viable competing line of hardware, acquiring companies such as server maker ZT Systems in its quest to achieve that goal.

But to build a successful line of chips also requires a powerful set of software to efficiently run the programs built by AI developers. AMD has acquired several small software companies in recent weeks in a bid to boost its talent, and it has been working to beef up its set of software, broadly known as ROCm. "This will be a very thoughtful, deliberate, multi-generational journey for us," said Vamsi Boppana, senior vice president of AI at AMD. Yahoo Finance reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1) $RBNE: Robin Energy

Total gain: +227.76%

2) $TMDE: TMD Energy Limited

Total gain: +118.67%

3) $USEG: US Energy

Total gain: +66.90%

4) HUSA: Houston American Energy

Total gain: +63.86%

5) $INDO: Indonesia Energy Corp

Total gain: +38.70%

The closing price of the top three market percent gainers trading near or above $3 on June 12.
Benzinga reports.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1) $URGN: UroGen Pharma

Total gain: +50.95%

The stock appeared to be moving on no notable news.

2) $SGMT: Sagimet Biosciences

Total gain: +39.41%

The stock appeared to be moving on no notable news.

3) $CVAC: CureVac

Total gain: +37.59%

BioNTech SE and CureVac N.V. announced that they have entered into a definitive Purchase Agreement under which BioNTech intends to acquire all shares of CureVac, a clinical-stage biotech company developing a novel class of transformative medicines in oncology and infectious diseases based on messenger ribonucleic acid. The all-stock transaction will bring together two highly complementary companies based in Germany and will build on BioNTech's proven track record and established position in the global mRNA industry. Benzinga reports.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars


MNY: MoneyHero
1Q 2025

Before Market Open
Estimate: N/A
Actual: N/A

"Financial success is not a hard science. It’s a soft skill, where how you behave is more important than what you know."

- Morgan Housel

Sourced in: “The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness”, by
Morgan Housel, published in 2020