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U.S. stock futures slipped Wednesday as renewed fighting in the Middle East put the S&P 500's nine-session winning streak at risk, according to MarketWatch.
Futures contracts on the Dow Jones Industrial Average slipped 0.16%, while those tied to the S&P 500 were off 0.07% and Nasdaq $NDAQ -5.28%-100 contracts retreated 0.1%. The overnight escalation involved Iranian missile launches targeting Kuwait and Bahrain, following U.S. Central Command's announcement that American forces had conducted strikes on Qeshm Island after thwarting Iranian attacks throughout the region. Brent crude climbed to just under $98 a barrel, a sharp move higher from the roughly $91 level where it had been trading the previous week.
Tuesday's session ended with the S&P 500 breaching the 7,600 mark for the first time, a 0.13% advance, as the Dow tacked on 228.91 points, or 0.45%, and the Nasdaq posted a marginal gain of 0.03%. Another gain Wednesday would give the S&P 500 its longest winning streak since 1995, according to The Wall Street Journal.
Trump told reporters that Iran had committed to forgoing nuclear weapons, though he cautioned that the agreement was not necessarily permanent, saying "they can change their mind." He also told the New York Post he would likely meet Iran's new ayatollah at some point, a comment that moved oil futures lower briefly before markets stabilized.
