Pre-Market Futures Slide as Tech Leads Losses, Oil Jumps on Iran Strikes

GeopoliticsMacroCommodity Impact 5
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Summary · why it matters

Pre-market futures are down, led by a 372-point drop in Nasdaq futures, a decline of 1.24%. The Dow is off 97 points, the S&P 500 is down 33 points, and the Russell 2000 has shed 12 points. SK Hynix shares are tumbling 10% after its CEO warned that 2027 will bring the most severe memory shortage in industry history, dragging SanDisk down 6%. Over the weekend, the U.S. bombed targets in Iran for a second straight night, and Iran responded by launching bombs at neighboring Gulf states and working to re-close the Strait of Hormuz. Traffic through the strait has reportedly fallen more than 50%, pushing spot oil prices to $74 per barrel for WTI and $79 for Brent. Bond yields are climbing, with the 2-year yield hitting an 18-month high at 4.23% and the 10-year at 4.58%. Tuesday brings the start of Q2 earnings season with reports from JPMorgan, Goldman Sachs, Citigroup, Bank of America, and Wells Fargo, along with the June CPI, which is expected to show a negative month-over-month inflation rate for the first time since the pandemic.

Impact on stocks 6

Semiconductors▼ · 2 stocks
SK Hynix Inc
000660
▼ NegativeSupplyrelevance

CEO warns of most severe memory shortage in industry history by 2027, causing shares to tumble 10%.

Sandisk Corp
SNDK
▼ NegativeSupplyrelevance

SK Hynix CEO warns of severe memory shortage in 2027, dragging SanDisk down 6%.

Financials▲ · 2 stocks
Digital Finance & Tokenization▲ · 1 stocks
Artificial Intelligence▲ · 1 stocks

Theme Impact 9

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