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US stocks rose on Friday, on track for fresh record highs as optimism over trade talks and bets on Fed rate cuts boosted spirits. The S&P 500 added 0.6% and was on pace to close at its first record high since February. The benchmark index touched a new record intraday high just after the open.
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U.S. gross domestic product shrank by an annualized 0.5% in the first quarter, according to a final revision of the data on Thursday which confirmed the first contraction since 2022 and suggested possible headwinds from sweeping U.S. tariffs.
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U.S. stock futures are subdued, with markets weighing hopes for a sustained ceasefire between Israel and Iran as well as fresh interest rate comments from Federal Reserve Chair Jerome Powell.
What in the World!
In June 2025, the world was once again reminded of the volatile intersection of nuclear technology and global politics when the United States launched a precision strike—Operation Midnight Hammer—against Iran’s critical nuclear facilities.
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Trump said Israel and Iran had agreed to a “complete and total ceasefire” soon after Iran launched limited missile attacks Monday on a U.S. military base in Qatar, retaliating for the American bombing of its nuclear sites over the weekend.
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The world is bracing for Iran's response after the U.S. attacked key Iranian nuclear sites, joining Israel in the biggest Western military action against the Islamic Republic since its 1979 revolution.
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The global economy is heading for its slowest non-recessionary performance since 2008, with growth expected to reach just 2.3% in 2025, according to the World Bank’s latest Global Economic Prospects report.
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Stock markets in Asia edged lower on Thursday while safe havens such as gold and the Japanese yen gained as investors remained on edge over the possible entry of the United States into the week-old Israel-Iran air war.
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Concerns over escalating hostilities in the Middle East stayed front and centre in markets on Wednesday, sending oil prices higher and leaving investors hesitant to scoop up risk assets.
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Oil prices resumed their upward climb and U.S. futures were lower early Tuesday after Israel’s military issued an evacuation warning to 330,000 people in Iran’s capital Tehran.
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Israel and Iran have been engaged in a fierce exchange of fire for three consecutive days. According to Israel’s emergency service Magen David Adom, Iranian strikes have killed at least ten people, bringing the total death toll to 13. In Iran, Israeli strikes have caused 406 deaths and 654 injuries
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U.S. stock futures dropped sharply early Friday following a series of Israeli airstrikes on Iran, which sent energy prices surging and injected fresh uncertainty into an already tense geopolitical backdrop.
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