Updated Jul 13, 2026 – 7.58am, first published at 7.35amKey Posts30 mins ago — 7.58AMNasdaq says SK Hynix opens path to more foreign listings52 mins ago — 7.35AMWheat soars as Ukraine attacks on Russia pose export risk52 mins ago — 7.35AMApple sues OpenAI for trade secret theft52 mins ago — 7.35AMBefore the Bell: ASX to open higher but Iran flare-up may cap gains52 mins ago — 7.35AM Hedge fund Elliott builds stake in software firm CCC53 mins ago — 7.35AMGood morningGo to latestPinned post – 7.35AMBefore the Bell: ASX to open higher but Iran flare-up may cap gainsSarah JonesMarkets have been thrust back into uncertainty after US President Donald Trump threatened to shower Iran with missiles and Tehran said it was closing the key Strait of Hormuz again.Before the escalation in the Middle East, the Australian sharemarket was set for a solid start on Monday following decent gains on Wall Street as investors piled into South Korean chipmaker SK Hynix, which jumped more than 13 per cent on its New York debut.At the close of US trading, S&P/ASX 200 futures were pointing to a 43-point, or 0.5 per cent, advance to 8814. The S&P 500 Index finished up 0.4 per cent, inching closer to yet another fresh record, while US futures were also pointing to further gains.“Clearly downside risks have risen, but markets seemed to agree that the worst of the war is behind us,” AMP economist My Bui wrote in a note to clients about the recent price action.But that was before Trump ordered a third round of strikes on Iran that the US said was aimed at limiting the country’s ability to attack commercial vessels passing through the strait in response to Tehran last week striking a container ship with a Cypriot flag.The Islamic Revolutionary Guard Corps responded by declaring that the strait – through which about 20 per cent of the world’s energy supply is usually shipped – was closed, and no vessels would be allowed to pass through until foreign interference ended.Brent futures eased to around $US76 a barrel by Friday, even as recent flare-ups deterred tanker traffic through the strait, after a US official said talks between the two sides were continuing. Bloomberg reported that Iranian Foreign Minister Abbas Araghchi travelled to Oman on Saturday for talks on the future of the strait.Elsewhere in commodities, gold fell as much as 1.2 per cent to trade below $US4080 an ounce on Friday as the renewed fighting increased the risk that the US Federal Reserve would need to raise interest rates to offset the inflationary impact from the war.Market highlightsASX 200 futures are pointing up 43 points, or 0.5 per cent, to 8814.All prices are at the US close on Friday:AUD +0.2% to US69.54¢Bitcoin +0.8% to $US63,798.18On Wall St: Dow +0.3% S&P +0.4% Nasdaq +0.3%VIX -1.2 to 21.60Gold -0.1% to $US4,119.93 an ounceBrent oil -0.4% at $US76.01 a barrelIron ore +0.5% at $US99.25 a tonne10-year yield: US 4.56% Australia 4.83%Fetching latest articles