Morning Juice – US Session Prep (13th June)

Sentiment
Oil prices rose and stocks fell after Israel launched an attack on Iran’s nuclear program sites, escalating Middle Eastern tensions.
Gold surged 1% to its highest level in over a month, while the dollar recovered 0.4% from Thursday’s three-year low.
Brent crude rose 8.3% after surging as high as 13% in the largest intraday jump since March 2022.
S&P 500 futures fell 1.2% after paring earlier losses.
US Treasuries were little changed, with the 10-year note yielding around 4.36%.

The airstrikes on Iran’s nuclear program and ballistic missile sites reignited a standoff between two adversaries that could escalate into a larger conflict.
While crude oil experienced the strongest reaction, other sectors of the market indicated that investors are keeping an eye on how long the tensions will last and whether the situation will escalate.

The attack comes as equity markets have recovered from an April slump caused by Trump’s tariff war.
An index of global stocks set a new record Thursday, rising more than 20% from its April low.

Docket
10:00 ET
University of Michigan Survey June Prelim
Sentiment – Forecast: 53.6 | Prior: 52.2 | Range: 57 / 50.5
1-Year Inflation – Forecast: 6.4% | Prior: 6.6% Range: 6.6% / 6.1%
5-Year Inflation – Forecast:  4.1% | Prior: 4.2% | Range: 4.3% / 4%

Speakers
08:15 ET
Israel’s Ambassador to the UN Danon speaks on BBTV.

08:20 ET
ECB’s Schnabel moderates the annual joint conference of the European Commission and European Central Bank on European financial integration: Advancing the savings and investments union.
No text will be made available.

11:00 ET
Trump attends Nation Security meeting
(Closed Press)

Good luck, and have a good weekend!