WTI, Brent Crude Oil Futures Jump Pre-Bell After Tehran Hits American Airbase Following US Strikes on Iranian Targets

CBOE Volatility Index Up 2.9% Pre-Bell as Tehran Hits American Air Base; US Strikes Iran, Unveils New Sanctions

US Equity Futures Fall Pre-Bell, Crude Oil Rises After Tehran Targets American Airbase in Response to Strikes on Iran

US Equity Markets Higher After Drop in Crude Oil Prices

US equity indexes were higher on Wednesday after a decline in crude oil prices and government bond yields amid ongoing negotiations to end the US-Iran war.* A memorandum of understanding being negotiated between Tehran and Washington calls for US forces to withdraw from Iran's vicinity and lift the blockade of Iranian ports in return for reopening the Strait of Hormuz to pre-war levels, CNN reported, citing Iranian state television.* The Richmond Fed's monthly manufacturing index rose to 13 in May from 3 in April, more than the 4 estimate in a Bloomberg-compiled survey.* July West Texas Intermediate crude oil fell $4.34 to settle at $89.55 per barrel, while July Brent crude, the global benchmark, was last seen down $4.41 at $95.17.* MGM Resorts International (MGM) shares were up about 9%, the second biggest gainer on the S&P 500, after JPMorgan and Truist upgraded the stock and lifted their price targets.* Boston Scientific (BSX) shares were down nearly 12%, the worst performer on the S&P 500, after Chief Executive Mike Mahoney said at an industry conference that this year has been "a bit more of a challenge" than anticipated. Stifel and Goldman Sachs also lowered their price targets for the stock.