This content was published on
June 11, 2026 - 09:38
4 minutes
(Bloomberg) — Traders are buying the dip in stocks as a swift end to the latest round of US strikes against Iran raised expectations that talks to reopen the Strait of Hormuz will get back on track.S&P 500 futures rose 0.7% to recover from a five-week low. Nasdaq 100 contracts advanced 1.1%. US Central Command called an end to “additional self-defense” strikes about four hours after launching attacks on multiple targets in Iran, with Brent erasing gains of 2.6% to trade below $93 a barrel.The worries of further escalation still lingered as President Donald Trump told Fox News the US would hit Iran again if its leaders didn’t sign an interim peace deal. The attacks, which followed strikes on Tuesday in retaliation for the downing of a US helicopter, underscored Trump’s frustration that the two sides have so far failed to reach an agreement.“We remain optimistic that a deal would eventually be reached, but the last two days events have been a setback,” said Mohit Kumar, chief economist and strategist for Europe at Jefferies. “Trump’s strategies have not worked well in the past on Iran and further escalation cannot be ruled out in the near term.”European stocks rose 0.5%, with gains led by energy shares. Ahead of what is expected to be the European Central Bank’s first interest-rate hike since 2023, traders will focus on comments from ECB President Christine Lagarde for clues on policymakers’ inflation outlook and how they are likely to respond.Meanwhile, a flood of new shares from companies looking to fund their AI ambitions is raising questions on Wall Street about whether there will be enough buyers to soak them all up and what this pile of fresh equity will mean for stock prices more broadly.SpaceX’s IPO attracted demand for more than four times the available shares, according to people familiar with the matter.“Investors can’t help but have one eye on the SpaceX IPO, and there’s nervousness about how markets will react to it,” said Josh Gilbert, lead analyst for Asia Pacific and the Middle East at Etoro Ltd. “How markets absorb the biggest listing in history at a rich valuation will tell us a lot about whether the appetite for the AI trade is still sky high.”What Bloomberg’s Strategists Say…“With SpaceX’s $75 billion IPO set to be priced today, investors have been raising cash, reducing leverage and reallocating capital to prepare. The resulting concentration of capital is generating short-term liquidity pressures that are weighing down broader risk assets.”— Andre de Silva, Markets Live strategist. Click here for the full analysis.Corporate Highlights:Oracle Corp. shares declined in extended trading after the company reported quarterly capital expenses that were higher than estimates, raising investor concerns about the profitability of the AI infrastructure business. Super Micro Computer Inc. sank after the company announced a plan to raise $7 billion through a package of equity offerings, a move meant to help pay for the production of more AI servers. OpenAI is considering drastically lowering the prices it charges users as it seeks to win customers from its archrival Anthropic. SpaceX’s initial public offering has attracted demand for more than four times the available shares, according to people familiar with the matter. Some of the main moves in markets:StocksThe Stoxx Europe 600 rose 0.5% as of 8:35 a.m. London time S&P 500 futures rose 0.7% Nasdaq 100 futures rose 1.1% Futures on the Dow Jones Industrial Average rose 0.6% The MSCI Asia Pacific Index fell 0.4% The MSCI Emerging Markets Index fell 0.3% CurrenciesThe Bloomberg Dollar Spot Index was little changed The euro rose 0.1% to $1.1551 The Japanese yen was little changed at 160.52 per dollar The offshore yuan was little changed at 6.7770 per dollar The British pound rose 0.1% to $1.3388 CryptocurrenciesBitcoin rose 1.5% to $62,668.09 Ether rose 1.5% to $1,653.72 BondsThe yield on 10-year Treasuries declined two basis points to 4.53% Germany’s 10-year yield was little changed at 3.07% Britain’s 10-year yield was little changed at 4.93% CommoditiesBrent crude fell 0.8% to $92.38 a barrel Spot gold rose 0.9% to $4,107.46 an ounce This story was produced with the assistance of Bloomberg Automation.–With assistance from Anand Krishnamoorthy.©2026 Bloomberg L.P.
