Traders work on the floor of the New York Stock Exchange (NYSE) on February 13, 2026 in New York.
Spencer Platt | Getty Images
Stock futures were mixed Tuesday morning after a losing session that saw traders try to weather rising tensions between Iran and the United States. Wall Street was also awaiting the release of key corporate earnings and fresh inflation data.
Dow Jones Industrial Average futures fell 103 points, or 0.2%. S&P 500 futures flat while Nasdaq-100 futures increased by 0.37%.
Major U.S. stock indexes fell in regular trading after President Donald Trump said he would restore a blockade of Iranian shipping through the key Strait of Hormuz.
“We are reinstating the IRANIAN BLOCKade, so named because it only prevents Iranian ships or customers from entering or leaving,” Trump said in a post on Truth Social.
The announcement caused oil prices to rise and stocks to fall. The S&P 500 lost 0.8% on the day, while the Nasdaq Composite fell 1.6%. The Dow retreated more than 100 points, or about 0.3%. Brent crude rose more than 9%, its biggest one-day gain since 2020.
Markets in the Asia-Pacific region traded mixed on Tuesday. Japan standard Nikkei 225 rose 0.15%, while Topix gained 0.48%. South Korea Cospi rose 1.24%, while small-cap Kosdaq lost 1.75%. Australian standard S&P/ASX 200 Index decreased by 0.44%. Hong Kong’s Hang Seng index fell 0.54%, while mainland China’s CSI 300 index opened unchanged.
Global government bond yields rose on Tuesday morning as investors fear higher oil prices could curb inflation.
Yields on 10-year government bonds in Europe rose around 4-5 basis points in early trade, while UK government bond yields at all maturity levels hit their highest levels since May.
In Asia-Pacific, 10-year yields in major markets rose 5-8 basis points, with the exception of Japan, where yields fell 7 basis points.
The volatility comes as Wall Street awaits corporate earnings reports. JPMorgan Chase, Goldman Sachs and Bank of America are among the companies set to report before the bell on Tuesday.
“Today was a little unusual. Today things were a little worse. But overall, this does not change our approach to earnings season. We’re pretty constructive about big tech companies in general. We do think there’s some upside potential in earnings,” Michael Graham, director of research and investment strategy at Canaccord Genuity, said on CNBC’s “Closing Bell: Overtime.”
Analysts expect S&P 500 earnings to rise 23.6% in the second quarter compared with the same period last year, according to FactSet.
Inflation data for June will also be released on Tuesday, and the latest CPI reading is scheduled for 8:30 a.m. ET. Fed Chairman Kevin Warsh will also meet with lawmakers on Capitol Hill on Tuesday as part of his two-day Humphrey Hawkins report on monetary policy. For the first time, the new head of the Federal Reserve will present the central bank’s semi-annual reports.