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July 9, 2026 - 09:35
3 minutes
(Bloomberg) — Stocks bounced back from a brief geopolitical risk-off spell as oil halted gains after the US concluded a second day of strikes on Iran.S&P 500 futures rose 0.3%. Brent crude erased early gains to trade near $77.40 a barrel, a day after posting its biggest advance since May. Chipmakers in Asia and Europe rallied as SK Hynix Inc. drew strong demand for its offering of American depositary receipts. The Stoxx 600 rebounded from its biggest daily selloff since March.The calmer mood in markets comes despite an escalation of violence in the Middle East that is threatening efforts to reach a permanent peace deal. The US military hit about 90 Iranian targets Wednesday to degrade Tehran’s ability to attack commercial shipping in the Strait of Hormuz.Traders say that while the tensions reflect the fragile nature of the truce between the US and Iran, neither side would want a full-scale return to war and that the parties would likely return to negotiations.“This is the new status quo; it’s an uneasy equilibrium, but an equilibrium nonetheless,” said Geoff Yu, a senior macro strategist at BNY. “You just need to factor in the volatility in your asset allocation.”Global bonds were modestly higher on Thursday to put an end to the previous session’s selloff. The yield on 10-year Treasuries eased one basis point to 4.56%.Minutes of the Federal Reserve’s June 16-17 meeting, released Wednesday, showed that a few committee members saw a case for a rate increase, though they ultimately supported the decision to make no change.Corporate News:SK Hynix Inc.’s US listing is more than seven times oversubscribed, according to people familiar with the matter, as the South Korean memory chipmaker prepares to price its offering Thursday. Deutz AG agreed to buy military vehicle maker Flensburger Fahrzeugbau Gesellschaft mbH for €1.6 billion ($1.8 billion), expanding further into the defense sector to benefit from Europe’s rearmament drive. Some of the main moves in markets:StocksThe Stoxx Europe 600 rose 0.5% as of 8:32 a.m. London time S&P 500 futures rose 0.3% Nasdaq 100 futures rose 0.6% Futures on the Dow Jones Industrial Average rose 0.1% The MSCI Asia Pacific Index rose 0.1% The MSCI Emerging Markets Index fell 0.1% CurrenciesThe Bloomberg Dollar Spot Index was little changed The euro rose 0.2% to $1.1437 The Japanese yen rose 0.1% to 162.36 per dollar The offshore yuan rose 0.1% to 6.7977 per dollar The British pound rose 0.3% to $1.3424 CryptocurrenciesBitcoin rose 1.2% to $62,804.18 Ether rose 0.9% to $1,751.11 BondsThe yield on 10-year Treasuries declined two basis points to 4.56% Germany’s 10-year yield was little changed at 3.10% Britain’s 10-year yield declined four basis points to 4.93% CommoditiesBrent crude fell 0.8% to $77.37 a barrel Spot gold rose 0.7% to $4,105.90 an ounce This story was produced with the assistance of Bloomberg Automation.©2026 Bloomberg L.P.
