This content was published on
June 8, 2026 - 11:13
5 minutes
(Bloomberg) — US stock futures staged a modest rebound even as flaring tensions in the Middle East sent oil prices and bond yields higher.S&P 500 contracts rose 0.2% while those for the Nasdaq 100 climbed 0.5%, signaling a halt to the technology-driven selloff. Brent advanced 4.6% to above $97 a barrel after Israel retaliated against Iranian missile attacks. Treasuries fell, with the 10-year yield up four basis points to 4.57% as traders added to bets that the Federal Reserve will hike interest rates this year.While US stocks found their footing, Friday’s rout still left its mark elsewhere. Asia’s benchmark dropped 3.2% as South Korea’s Kospi tanked 8.3%. Europe’s Stoxx 600 fell 0.7%, with losses in rate-sensitive shares such as construction and retail stocks outpacing those in tech.Investors are starting the week grappling with a host of negatives: worries over whether the blistering artificial-intelligence rally has run too far, renewed fighting in the Middle East and inflation pressures that are bolstering the case for rate hikes.A flood of new shares from companies looking to fund their AI ambitions, including SpaceX’s offering that concludes this week, is also raising questions about whether there will be enough buyers to soak them all up.“There are three key potential risks to stock markets at the moment — Hormuz remaining closed, inflation and rates rising faster than expected and investors taking profits in assets which have performed spectacularly well,” said Michael Bell at RBC Bluebay Asset Management. “Some hedges and diversification against all three risks probably make sense.”Chipmakers that were the hardest hit in Friday’s selloff attracted dip buyers in premarket trading. Marvell Technology Inc. rose 6.7% while Micron Technology Inc. advanced almost 4.3%. Nvidia Corp. led gains among the Magnificent Seven heavyweights.What Bloomberg Strategists Say…“The equity market’s two key drivers, AI and energy, have both turned negative, pointing to downside for stocks. While the weakness in tech looks more like a correction than the start of a bear market, investors are heading into two weeks packed with event risk just as oil prices are moving higher again. It is difficult to argue for adding risk in the near term.”— Skylar Montgomery Koning, macro strategist. For the full analysis, click here.Bitcoin climbed 2.1% after falling below the $60,000 mark on Friday for the first time since Donald Trump won reelection in 2024. Strategy Inc. Chairman Michael Saylor hinted at further purchases.In geopolitical news, Israel and Iran exchanged missile strikes on Monday despite President Donald Trump’s calls for both sides to stop fighting and give peace talks a chance.The exchange is one of the most serious tests of a ceasefire that took effect on April 8 to halt fighting involving the US, Israel and Iran. It comes as the US and Iran appear to be making little progress toward an interim agreement to end the war, even as Trump has repeatedly said a deal is near.Interest-rate swaps indicated traders expect at least one quarter-point Fed hike by the December policy meeting with a 25% chance of another.Corporate Highlights:Intesa Sanpaolo SpA offered to buy Banca Monte dei Paschi di Siena SpA for €30.6 billion ($35.3 billion) in a move that’s set to spur a new phase of dealmaking in Italian finance. A consortium of French telecommunications companies have agreed to buy billionaire Patrick Drahi’s SFR in a deal that values the country’s second-largest mobile carrier at €20.4 billion ($23.5 billion) including debt. Airbus SE has been notifying some customers of delays on A320neo series jets that are due to be delivered in 2027 and 2028, according to people familiar with the matter. Some of the main moves in markets:StocksThe Stoxx Europe 600 fell 0.7% as of 10:08 a.m. London time S&P 500 futures rose 0.2% Nasdaq 100 futures rose 0.5% Futures on the Dow Jones Industrial Average fell 0.3% The MSCI Asia Pacific Index fell 3.2% The MSCI Emerging Markets Index fell 3.6% CurrenciesThe Bloomberg Dollar Spot Index was little changed The euro fell 0.1% to $1.1508 The Japanese yen rose 0.1% to 160.05 per dollar The offshore yuan was little changed at 6.7868 per dollar The British pound fell 0.2% to $1.3321 CryptocurrenciesBitcoin rose 2.2% to $63,209.6 Ether rose 2.1% to $1,661.53 BondsThe yield on 10-year Treasuries advanced four basis points to 4.57% Germany’s 10-year yield advanced three basis points to 3.06% Britain’s 10-year yield advanced five basis points to 4.95% CommoditiesBrent crude rose 4.6% to $97.33 a barrel Spot gold fell 1% to $4,286.86 an ounce This story was produced with the assistance of Bloomberg Automation.–With assistance from Neil Campling and James Hirai.©2026 Bloomberg L.P.
