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Update: US Equity Futures Mixed Pre-Bell as Middle East Tensions Intensify, Major US Banks Post Earnings
(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mixed pre-bell Tuesday as traders monitored the unabated rise of tensions in the Middle East, as well as the financial results of major US banks.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were flat, and Nasdaq futures were 0.7% higher.US Central Command completed another series of attacks against Iran on Monday night, its third consecutive wave, aiming to "continue imposing a heavy cost on Iranian forces and degrade their ability to attack innocent civilians and commercial shipping in the Strait of Hormuz," the command said in a post on X.Meanwhile, President Trump said the US is reinstating the blockade on Iranian vessels. "The U.S.A. will be, from this point forward, known as "THE GUARDIAN OF THE HORMUZ STRAIT," but as such, and as a matter of FAIRNESS, will be reimbursed, at the rate of 20% on all cargo shipped," Trump said in a post on Truth Social.Traders digested the latest round of earnings, with JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC), and Goldman Sachs Group (GS) all reporting higher Q2 earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.4% at $86.92 per barrel and US West Texas Intermediate crude 3.1% higher at $80.53 per barrel.The June consumer price index, released at 8:30 am ET, fell 0.4%, compared with a 0.5% gain in the previous month, and wider than an expected 0.4% decrease in a survey compiled by Bloomberg.New Federal Reserve Chair Kevin Warsh will deliver his first semi-annual monetary policy report to the House Financial Services Committee, starting at 10 am ET.Federal Reserve Governors Lisa Cook, Michael Barr, Michelle Bowman, and Chicago President Austan Goolsbee are slated to speak on Tuesday.In other world markets, Japan's Nikkei closed 0.7% higher, Hong Kong's Hang Seng ended 0.5% higher, and China's Shanghai Composite finished 1.4% higher. Meanwhile, the UK's FTSE 100 was flat, and Germany's DAX index was 0.9% lower in Europe's early afternoon session.In equities, IBM (IBM) shares fell 22% after the company said it expects Q2 earnings and revenue to be below analysts' consensus estimates. Several major US bank stocks were down after reporting Q2 financial results. JPMorgan Chase shares dropped 2.3%, Bank of America stock was down 1.8%, and Wells Fargo shares were 1.4% lower.On the winning side, stocks of ASML (ASML), Applied Materials (AMAT), and Lam Research (LRCX) rose as part of a broader rebound in the semiconductor sector after a previous sell-off. ASML shares rose 3%, Applied Materials stock was up 6.1%, and Lam Research shares were 6.1% higher. Goldman Sachs shares increased 4% after the bank posted its Q2 financial results.
Dow JonesNasdaq CompositeS&P 500$AMAT$ASML$BAC$GS$IBM$JPM$LRCX$WFC
