Futures drop, oil prices climb amid Iran conflict - what’s moving markets

U.S. President Donald Trump announced that the timeline for America's joint campaign with Israel against Iran could stretch on indefinitely, with Washington prepared to do 'whatever it takes,' causing futures linked to major U.S. stock indices to point sharply lower even as equities staged a broad recovery following the start of fresh conflict in Iran, while oil prices climbed on concerns about potential crude supply disruptions through the vital Strait of Hormuz waterway. The escalating tensions in the Middle East have created significant volatility in global financial markets, with investors reacting cautiously to the prospect of prolonged military engagement in the region. As the U.S. and Israel appear to be preparing for an extended campaign against Iran, the market is experiencing conflicting signals with recovering equities but declining futures, indicating investor uncertainty about the near-term trajectory. The strengthening U.S. dollar has put downward pressure on spot gold prices, as the precious metal typically moves inversely to the dollar, while big-box retailer Target also appears to be making market-related headlines, though specific details were not provided in the original report.