U.S. Stocks Dip After Iran Strikes; Oil, Defense Stocks Surge, Tesla and Fiserv in Focus

U.S. Stocks Dip After Iran Strikes; Oil, Defense Stocks Surge, Tesla and Fiserv in Focus

Business News, News, Stock Market 9 hours ago 0Comments 0Likes

U.S. stock futures opened lower, while oil prices climbed, following a major U.S. military strike on Iranian nuclear sites over the weekend. The move has shaken global markets and boosted certain sectors, especially defense and energy stocks.

Defense Stocks Move Higher After Iran Airstrikes

Defense companies saw a surge in premarket trading as news broke that the U.S. used B-2 bombers to attack Iranian nuclear targets. The bombers, operated by Northrop Grumman, dropped 14 GBU-57 “bunker-buster” bombs, marking the first live use of the 30,000-pound weapon.

Northrop Grumman shares rose 0.6%
Boeing, which supplies the MOPs, was slightly down 0.4%
Lockheed Martin gained 0.5%
RTX (formerly Raytheon Technologies) jumped 1.1%, after its Tomahawk cruise missiles were reportedly used in the attack

Over 125 U.S. military aircraft, including advanced fighter jets from Boeing and Lockheed, took part in the operation.

Oil Stocks Rally as Iran Moves to Close Strait of Hormuz

Shares of major oil companies rose sharply after Iran’s Parliament approved a motion to close the Strait of Hormuz, a vital global oil shipping route. Though the final call will be made by the country’s Supreme National Security Council, the news pushed crude oil prices up temporarily.

Exxon Mobil rose 1.7%
Chevron gained 1.4%
ConocoPhillips increased 1.6%
Marathon Petroleum added 1.4%

Nearly 20% of the world’s oil supply passes through the Strait daily, making this a major geopolitical and energy market concern.

Tesla Launches Robo-Taxi Service in Austin

Tesla made headlines with the soft launch of its robo-taxi service in Austin, Texas. CEO Elon Musk confirmed users will pay just $4.20 per ride in the pilot phase. The service is currently limited to select users in a geofenced area, with safety monitors in the front seat.

Tesla shares rose 0.6% in premarket trading

Northern Trust Surges on Merger Talks with BNY Mellon

Northern Trust shares jumped 4.7% after reports that Bank of New York Mellon expressed interest in a potential merger. According to The Wall Street Journal, CEOs of both banks have had early talks, though no formal offer has been made yet.

BNY Mellon shares rose slightly

Fiserv Launches Digital Asset Platform

Fiserv, a leading financial technology firm, rose 3.8% after it announced a new digital asset platform, which includes a stablecoin to be integrated into its existing banking and payments systems by end of 2025.

Dow Inc. Falls After Analyst Downgrade

Dow Inc. stock dropped 2% to $27.22 after BMO Capital downgraded it from Market Perform to Underperform, cutting its price target to $22 from $29 due to expected industry headwinds.