The S&P 500 futures today traded near stability this Tuesday, while Bitcoin tried to recover part of its recent losses amid investor caution. The market remains divided between the geopolitical tensions involving the United States and Iran, the start of the corporate earnings season, and the release of U.S. inflation data, factors that may define investor sentiment throughout the trading session.
Before Wall Street opened, futures contracts for the S&P 500 were down 0,20%, to 7.547,50 points. Futures for the Dow Jones Industrial Average fell 0,19%, to 52.663 points, while contracts for the Nasdaq 100 slipped 0,35%, to 29.373 points. Meanwhile, futures for the Russell 2000 posted a decline of 0,28%, para 2.962,10 pontos.
The cautious sentiment was also evident in the volatility market. The VIX, known as Wall Street's fear index, rose 14.17%, to 17.16 points, indicating greater demand for safe-haven assets.
Among commodities, gold rose 0.07%, quoted at US$ 4,008.40, while the August WTI oil contract advanced 0.92%, to US$ 78.86 per barrel, supported by concerns about possible impacts on global oil supply. In the cryptocurrency market, Bitcoin was traded at US$ 62,486.17, with a daily decline of 1.33%, but sought to reduce part of the losses recorded after the increase in risk aversion in global markets.
Pressure on the markets gained momentum after the current president of the United States, Donald Trump, announced the reinstatement of measures related to Iran's maritime trade in the Strait of Hormuz, one of the most important routes for global oil transportation.
"We are reinstating the IRANIAN BLOCKADE, so called because it only prevents the entry or exit of ships or customers from Iran", Trump said in a post on Truth Social.
The statement heightened concerns about the global oil supply and triggered a strong reaction in the markets. In the previous session, a barrel of Brent oil surged more than 9%, posting its biggest daily gain since 2020.
The impact was also felt in the U.S. stock markets. The S&P 500 closed the trading session down 0,8%, while the Nasdaq Composite fell 1,6%. The Dow Jones lost more than 100 points, equivalent to approximately 0,3%, following the risk-off movement.
In Asia, the markets showed mixed performance. The Nikkei 225, in Japan, advanced 0,15%, while the Topix rose 0,48%. In South Korea, the Kospi posted a gain of 1,24%, but the Kosdaq fell 1,75%.
In Australia, the S&P/ASX 200 closed the day down 0,44%. Meanwhile, the Hang Seng, in Hong Kong, fell 0,54%, while the CSI 300, from mainland China, started the session virtually unchanged.
Another factor closely watched by investors is the rise in yields on United States Treasury bonds. The increase in Treasury yields comes amid concerns that the rise in oil prices will keep inflation under pressure for longer.
Wall Street is also beginning one of the most important weeks of the corporate earnings season. Before the markets open, JPMorgan Chase, Goldman Sachs and Bank of America report their earnings, figures that should offer new signs about the performance of the American economy.
Michael Graham, director of investment research and strategy at Canaccord Genuity, said that the recent decline in the stock markets does not change the positive outlook for the results of major technology companies.
“Today was a somewhat atypical day. Everything was kind of down today. But, in general, that does not really change how we see the earnings season. We are quite optimistic about major technology companies in general. We believe the results have upside potential”, he said during an appearance on the program Closing Bell: Overtime, on CNBC.
According to FactSet estimates, the earnings of the companies that make up the S&P 500 are expected to grow 23.6% in the second quarter compared with the same period last year.
In addition to earnings reports, investors are awaiting the release of the June Consumer Price Index (CPI), one of the main inflation indicators in the United States. Federal Reserve Chairman Kevin Warsh is also scheduled to appear at a hearing on Capitol Hill to present the traditional semiannual Humphrey-Hawkins reports on monetary policy, an event closely watched by financial markets and one that may influence expectations for the monetary authority’s next steps.