This content was published on
June 11, 2026 - 14:37
3 minutes
(Bloomberg) — A Wall Street rebound waned as oil rose on concern about an escalation of the war between the US and Iran that will keep energy costs elevated, fueling inflation risks.Stocks pared gains in early New York trading after President Donald Trump said the US will be hitting Iran “very hard tonight,” adding that “at some point in the not too distant future, we will be taking Kharg Island.” In a volatile session, US crude rose to around $91.Equities also lost steam after data showed inflation rose in May at the fastest pace in more than three years as the fallout from the Iran war continued to fan price pressures. The producer price index increased 6.5% from a year earlier, according to Bureau of Labor Statistics data out Thursday. It advanced 1.1% from April.Elsewhere, the European Central Bank raised interest rates for the first time in almost three years, concluding it can no longer wait out the Iran war as inflation pressures intensify.Corporate Highlights:SpaceX was rated outperform at Oppenheimer & Co., which assigned a price target of $190 per share ahead of Elon Musk’s space technology company’s expected trading debut on Friday. Oracle Corp. fell after reporting quarterly capital expenses that were higher than estimates, raising investor concerns about the profitability of the AI infrastructure business. Intel Corp. rose after Bank of America Corp. raised its recommendation to buy from underperform on expected growth from central processing unit sales. Apollo Global Management Inc. is assessing every new investment opportunity in the software industry for AI disruption risk, as asset managers try to quell investor concerns that rapid advances in the technology could make businesses obsolete. Alibaba Group Holding Ltd. and JD.com Inc. slid after Chinese regulators scolded leading e-commerce players for what it called misleading promotions, Beijing’s latest warning against unchecked competition in the vast online arena. Some of the main moves in markets:StocksS&P 500 futures rose 0.2% as of 8:35 a.m. New York time Nasdaq 100 futures rose 0.4% Futures on the Dow Jones Industrial Average rose 0.3% The Stoxx Europe 600 rose 0.3% The MSCI World Index was little changed CurrenciesThe Bloomberg Dollar Spot Index rose 0.2% The euro was little changed at $1.1524 The British pound fell 0.2% to $1.3346 The Japanese yen was little changed at 160.59 per dollar CryptocurrenciesBitcoin rose 1.6% to $62,731.15 Ether rose 1.2% to $1,648.27 BondsThe yield on 10-year Treasuries was little changed at 4.55% Germany’s 10-year yield declined two basis points to 3.06% Britain’s 10-year yield was little changed at 4.93% The yield on 2-year Treasuries advanced one basis point to 4.16% The yield on 30-year Treasuries declined one basis point to 5.02% CommoditiesWest Texas Intermediate crude rose 0.8% to $90.75 a barrel Spot gold fell 0.3% to $4,060.11 an ounce ©2026 Bloomberg L.P.
