Israel's attack on Iran is steering sentiment into the ground
The Dow Jones Industrial Average (DJI) is off 472 points, pacing for its worst day since May 21, while the tech-heavy Nasdaq Composite (IXIC) drops triple digits as well. The S&P 500 Index (SPX) also sits firmly in the red, as investor focus remains on Iran and Israel, after the latter struck a nuclear plant in the former early this morning.
Safe-haven assets and crude prices are barreling higher in response, with gold futures at two-month highs and West Texas Intermediate (WTI) July-dated oil up more than 8%. Meanwhile, the University of Michigan's sentiment survey showed consumers were notably less concerned about the economy in May, with a better-than-expected reading of 60.5.
Continue reading for more on today's market, including:
- 3 gold stocks surging with safe havens.
- Crude names to watch amid Israel-Iran conflict.
- Plus, post-earnings plunge for ADBE; retailer tops NYSE; and cloud stock suffering steep losses.
Adobe Inc (NASDAQ:ADBE) is popular in the options pits today, with 56,000 calls and 55,000 puts across the tape so far. This represents 9 times the average daily options volume, with the weekly 6/13 380-strike put the most popular. ADBE reported a fiscal second-quarter earnings beat, but investors were unimpressed by its raised outlook. ADBE is now 12% lower for 2025.
Retail giant RH Inc (NYSE:RH) is one of the best performers on the New York Stock Exchange (NYSE) today, last seen up 12.8% at $198.30 after posting a surprise first quarter profit. Today's pop has the shares back above the 50-day moving average and eyeing their best daily performance since mid May. In 2025 RH has shed 50%.
Tech name Fastly Inc (NYSE:FSLY) is one of the worst performers on the NYSE today, down 9% to trade at $7.10, at last check, days after the equity posted a narrower-than-expected first-quarter loss. The shares are adding to their already 24.7% deficit for 2025, pacing toward their worst day since early April.