Dow Jones Industrial Average futures edged higher on Friday morning, buoyed by defense and energy heavyweights, while Nasdaq futures slipped as investors priced in the inflationary risks of a potential Middle East conflict amid intensifying unrest in Iran.
The divergence comes as the Iranian regime faces its most severe existential threat in decades, with crude oil prices climbing on fears of supply disruptions.
| Futures | Change (+/-) |
| Dow Jones | 0.01% |
| S&P 500 | -0.01% |
| Nasdaq 100 | -0.03% |
| Russell 2000 | 0.05% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, closed lower on Thursday. The SPY was down 0.01% at $689.51, while the QQQ declined 0.60% to $620.47, according to Benzinga Pro data.
Oil Rallies On Regime Collapse Fears
West Texas Intermediate (WTI) crude futures for February delivery rose 0.64% to $58.13 per barrel, snapping a recent bearish streak.
Traders are aggressively hedging against the potential closure of the Strait of Hormuz or damage to Iranian oil infrastructure following President Donald Trump‘s warning that the U.S. may intervene to “rescue” protesters.
With the Iranian government initiating a nationwide internet blackout to quell dissent, the risk premium in energy markets has returned with vengeance.
Precious Metals Pause Near Record Highs
Despite the “safe haven” narrative dominating the week, precious metals saw a slight technical pullback on Friday after hitting historic highs.
Spot Gold traded at $4,460.77, down 0.37%, though it remains near its 52-week peak of roughly $4,550. Silver followed a similar trajectory, dipping 0.61% to $76.53.
“Gold has support at $4410-4355, while resistance is at $4525-4560. Silver has support at $75.10-73.45 while resistance is at $80.05-82.40,” said Rahul Kalantri, VP Commodities, Mehta Equities Ltd.
Bitcoin Volatility Continues
In the crypto markets, Bitcoin (CRYPTO: BTC) hovered around $90,873, dropping slightly by 0.19% over the last 24 hours.
The asset has seen heightened volatility following reports that the Iranian Ministry of Defence is attempting to liquidate military assets for cryptocurrency to bypass sanctions.
While this validates crypto’s utility in bypassing banking rails, it has also introduced regulatory fear, keeping the price below the $100,000 threshold for now.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
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