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President Trump Threatens Additional Strikes on Iran as Oil Prices Rise and Stock Futures Decline

President Trump threatened to conduct further strikes against Iran following a direct exchange of attacks between the two countries. The conflict, which has recently evolved into an economic stand-off, has seen the user-s country strike two rocket launchers on Iran's Larak Island. In response, Iran launched missiles at two U.S. air bases in Jordan. Oil prices rose on Tuesday as the conflict revived concerns about supply disruptions. Brent crude futures climbed to $91.52 a barrel, while U.S. West Texas Intermediate crude gained to $87.01. Stock futures traded lower on Tuesday morning. The Dow Jones Industrial Average futures fell by 25 points, the S&P 500 futures were marginally higher, and the Nasdaq-100 futures slipped less than 0.1%. These movements occurred as investors monitor a jam-packed economic calendar, including upcoming manufacturing and services sector data. The administration announced that the U.S. and Japan carried out a rare joint intervention to support the currency at the end of July. U.S. Treasury Secretary Scott Bessent stated that the Japanese government and Bank of Japan will take actions that lead to a stronger yen.

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