U.S. stock futures are dropping and oil futures are jumping following Israel’s attack on Iran’s nuclear facilities and military leadership; Adobe (ADBE) posts better-than-expected fiscal second-quarter results; preliminary consumer sentiment data for June is expected to have risen from May’s reading; Oracle (ORCL) shares are pulling back from all-time highs in premarket trading; and Advanced Micro Devices (AMD)Â unveils its latest artificial intelligence (AI) chips. Here’s what investors need to know today.
1. US Stock Futures Drop, Oil Spikes on Iran-Israel Conflict
U.S. stock futures are falling and oil prices are spiking Friday as Israel’s attacks on Iran’s nuclear program and military leadership are sparking worries of a broader Middle East conflict and are driving investors into safe-haven assets. Dow Jones Industrial Average and Nasdaq futures are 1% lower, and S&P 500 futures are down 1.2%. Oil prices are jumping more than 8%. Gold is rising roughly 1% to around $3,433 an ounce. The 10-year Treasury yield is little changed at 4.37%. The U.S. dollar, which hit a three-year-low Thursday, is gaining ground against the euro, pound, and yen. Bitcoin (BTCUSD) is falling almost 2% to trade below $105,000.
2. Adobe Reports Better-Than-Expected Results, Lifts Outlook
Adobe (ADBE) delivered better-than-estimated fiscal second-quarter results on record-high sales and raised its full-year revenue and profit projections. However, the Creative Cloud developer’s shares are slipping more than 3% in premarket trading, and Citi analysts called the results “fairly straight down the middle” and noted that “overall AI usage appears to be leveling off.”
3. June Consumer Sentiment Data Due
June consumer sentiment data is due at 10:00 a.m. ET today, and analysts expect an improvement from May’s reading, according to a survey of economists by Dow Jones Newswires and The Wall Street Journal. President Donald Trump’s tariffs will be a key topic in the report, which dropped for four straight months before leveling out in May. The University of Michigan Index of Consumer Sentiment is expected to show a preliminary reading of 54.0, an improvement from the May reading of 52.2.
4. Oracle Stock Edges Lower After Hitting All-Time High
Oracle (ORCL) shares are pulling back slightly in premarket trading after soaring 13% to an all-time high Thursday, a day after the company’s fiscal fourth-quarter results and sales outlook sailed past Wall Street expectations. The enterprise software giant said it expects “dramatically higher” revenue growth this fiscal year, driven by strength in its cloud infrastructure segment, a bullish projection that prompted analysts to increase price targets.
5. AMD Unveils Next-Gen AI Chips
Advanced Micro Devices (AMD) unveiled its next-generation MI400 chips at its “Advancing AI” event Thursday. The chip isn’t expected to launch until 2026, but it already has some high-profile customers, including ChatGPT maker OpenAI. The event also brought the launch of AMD’s Instinct MI350 Series GPUs, which it claims offers four times more computing power than its previous generation. AMD shares, which entered Friday down 2% this year, are 2.5% lower in premarket trading.
