U.S. stock futures are ticking lower and Brent crude prices are down 2% after President Donald Trump holds off on deciding whether to strike Iran; Accenture (ACN) shares are falling after the consulting firm reports underwhelming bookings; shares of GMS (GMS) are soaring after Home Depot (HD) reportedly joins QXO (QXO) in attempting to acquire the building-products distribution firm; and Circle Internet Group (CRCL) stock continues to soar after Senate passage of stablecoin legislation. Here’s what investors need to know today.
1. US Stock Futures Point Lower as Trump Mulls Iran Attack
U.S. stock futures are pointing lower in premarket trading following yesterday’s market closure for Juneteenth as investors weigh President Donald Trump’s statement that he was considering a military strike against Iran. Nasdaq futures are 0.2% lower after the tech-focused index added 0.1% Wednesday. Dow Jones Industrial Average and S&P 500 futures also are edging lower. Bitcoin (BTCUSD) is rising nearly 2% to trade above $106,000. The yield on the 10-year Treasury yields is higher. Gold futures are lower.
2. Brent Crude Prices Sink After Trump Says Decision on Iran Strike Coming in Two Weeks
International oil prices are sinking by more than 2% after President Donald Trump said that he would make a decision on whether to launch a military strike against Iran within two weeks. Brent crude oil, the international benchmark, fell to trade at about $77 a barrel. The decline comes after White House press secretary Karoline Leavitt read a statement from Trump on Thursday where he said there was “a substantial chance of negotiations” with Iran over the coming days.
3. Accenture Stock Falls as Booking Come Up Short
Accenture (ACN) shares are 4% lower in premarket trading after the professional services firm’s quarterly bookings came in shy of analysts’ estimates. Accenture’s $19.7 billion in bookings fell well short of the $21.5 billion analyst consensus compiled by Visible Alpha. The company reported earnings per share (EPS) of $3.49 on revenue that grew 8% year-over-year to $17.73 billion. Analysts had expected $3.29 and $17.33 billion, respectively. Accenture also lifted the bottom end of its full-year revenue forecast again, now projecting 6% to 7% growth from fiscal 2024, and also raised its EPS estimate to $12.77 to $12.89.
4. Home Depot Joins QXO in Looking to Acquire GMS, Report Says
Hardware retailer Home Depot (HD) has reportedly made an offer to buy GMS (GMS), a building-products distribution company. The Wall Street Journal report didn’t specify a price but Visible Alpha lists the market capitalization of GMS at around $3.1 billion. QXO (QXO), another building products distributor, on Wednesday said it had offered to buy GMS for $95.20 per share, an 18% premium to Wednesday’s close. Shares of GMS are soaring 30% in premarket trading, while those of QXO are up 1% and Home Depot stock is edging lower.
5. Circle Stock Continues Climb on Stablecoin Legislation
Circle Internet Group (CRCL) shares are up 6% in premarket trading as the stock continues to make gains following Tuesday’s passage of stablecoin legislation by the Senate. The GENIUS Act opens the door for the use of stablecoins by banks, fintech firms, retailers, and others. Shares of Circle—the largest U.S.-based stablecoin issuer—soared 168% in their June 5 debut on the New York Stock Exchange (NYSE) and entered Friday’s session more than six times higher than their initial public offering (IPO) price of $31.
