Preview of US Stock Market | Three major stock index futures rise together, SpaceX(SPCX.US) continues to rise by more than 5% before the market opens.
Before the opening of the US stock market on Tuesday, June 16th, the futures of the three major US stock indexes rose together.
Pre-market Market Trends
1. In pre-market trading on June 16th (Tuesday), the futures for the three major US stock indexes all rose. As of the time of writing, Dow futures were up 0.12%, S&P 500 futures were up 0.09%, and Nasdaq futures were up 0.25%.
2. As of the time of writing, the Germany DAX index was up 0.44%, the UK FTSE 100 index was up 0.62%, the France CAC 40 index was up 0.72%, and the European Stoxx 50 index was up 0.77%.
3. As of the time of writing, WTI crude oil fell 2.95% to $78.37 per barrel, and Brent crude oil fell 2.86% to $80.79 per barrel.
Market News
US-Iran Agreement to Reopen the Strait of Hormuz! Navigation volume may resume to nearly 50% of pre-war levels within a month. Prior to the outbreak of the US-Iran conflict, an average of 20 million barrels of oil were transported through the Strait of Hormuz daily, accounting for about one-fifth of the global daily oil transportation volume. Shipping industry estimates suggest that after over 3 months of conflict, approximately 500 commercial ships remain stranded in the Gulf, and current traffic levels have dropped to a trickle. An agreement between the US and Iran is expected to restore navigation through the Strait of Hormuz, a vital global energy transport chokepoint. Analysts at trade data company Kpler stated on Monday that if the agreement between the US and Iran is successfully implemented without major setbacks, the volume of vessels passing through the Strait of Hormuz could return to nearly 50% of pre-war levels within a month. The analysts at Kpler said that the number of vessels passing through the Strait of Hormuz could increase to 40 per day, compared to approximately 100 vessels per day before the US and Israel attacked Iran on February 28.
Fitch Ratings: If the US-Iran agreement is reached, crude oil could fall back into oversupply in "one month" and drop to $70 in Q4. International rating agency Fitch Ratings released a report on Monday stating that the ceasefire delay between the US and Iran and the reopening of the Strait of Hormuz could significantly alleviate the extreme credit risks posed by the current Middle East conflict, but could also bring "imminent" oversupply pressure to the global crude oil market. Fitch made a key judgment in the report: "If the Strait...
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