US stock futures showed mixed performance late Tuesday evening as investors awaited the release of the Federal Reserve's June meeting minutes amid escalating military tensions between Washington and Iran.
Dow Jones Industrial Average futures edged down 0.02 percent, while S&P 500 futures rose 0.16 percent and Nasdaq-100 futures gained 0.55 percent at 9:14 PM EDT.
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Geopolitical Tensions Drive Oil Higher
Geopolitical tensions mounted after Washington revoked Iran's oil export license following attacks on three commercial vessels, including Saudi and Qatari tankers, in the Strait of Hormuz.
In response, US Central Command forces launched retaliatory strikes against Iranian targets. "U.
S.
Central Command forces have begun launching a series of powerful strikes against Iran to impose heavy costs for targeting and attacking commercial shipping crewed by innocent civilians in an international waterway," the command said on X.
The escalating conflict pushed oil prices past $70 per barrel.
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August Brent crude futures traded at approximately $76.22 per barrel, while West Texas Intermediate crude futures for August delivery surged nearly 3 percent to $72.49 per barrel.
Market participants rotated assets out of technology and AI firms into traditional sectors like financial services and healthcare.
During Tuesday's regular session, all major indexes closed lower.
The Dow fell 0.25 percent to 52,925.15, the S&P 500 dropped 0.45 percent to 7,503.85, and the Nasdaq Composite declined 1.16 percent to 25,818.69, dragged by a selloff in semiconductor equities.
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Investors now focus on the Fed's June policy meeting minutes, scheduled for release on Wednesday.
