Market Snapshot for Friday 6/13/2025
- S&P 500 – 5,976.97 (-1.13%)
- Dow Jones – 42,197.79 (-1.79%)
- NASDAQ – 19,406.83 (-1.30%)
Market Performance
Rising tensions in the Middle East sparked a wave of risk-off sentiment in markets today, with the S&P 500 falling 1.1% and the Dow dropping nearly 1.8%. The sell-off followed overnight developments, as Israel struck Iranian nuclear facilities and military sites, prompting Iran to respond with drone and missile attacks. The major indexes dropped to session lows in the afternoon after Israeli defense forces reported that dozens of Iranian missiles had been launched at Israel, stating that “all of Israel is under fire.” In response, Iran labeled Israel’s strike a “declaration of war.” The escalation pushed oil prices up by 8%.
Overseas, European and Asian markets also ended broadly lower, though losses were contained and major indexes remain positive for the year.
Israeli Prime Minister Benjamin Netanyahu has pledged that the campaign targeting Iran’s nuclear and military sites will continue “for as many days as it takes,” heightening concerns of a broader conflict. He also warned of “several waves” of expected retaliation from Iran.
President Trump took to social media to urge Iran to “make a deal” on its nuclear program in an effort to prevent further escalation. “JUST DO IT, BEFORE IT IS TOO LATE,” he wrote.
Economic Takeaways –
- The S&P 500 fell back below the 6,000 level on Friday after Israel launched an attack on Iran.
- The 10-year yield edged up to 4.4%, possibly signaling lingering inflation worries.
- Nearly all sectors closed lower, with energy being the sole exception.
- The latest University of Michigan survey, released Friday, showed consumer sentiment rising for the first time in six months. The index climbed to 60.5, up from 52.2 in the previous month and surpassed economists’ expectations of 53.6. The rebound follows one of the weakest readings on record in May.
- The dollar rose over 0.6% against a basket of other major currencies.
Gold –
- Gold futures jumped around 1.5% to trade near $3,450.50 per ounce, as investors flocked to the safe-haven asset.
- Spot gold climbed to hover near $3,425 per troy ounce, inching closer to its April record high of $3,500.05.
Oil –
- Crude oil prices soared more than 7%, paring gains of as much as 13% as strikes hit the third-largest OPEC producer.
- Energy stocks outperformed the rest of the market on Friday.
Bitcoin –
- Bitcoin sank as much as 3% against the dollar but is currently down about 2%, trading near $104,800.
- Other digital currencies also declined, with ether (ETH-USD) retreating nearly 8% at its lowest point.
What To Expect from Next Week’s Federal Reserve Meeting on Interest Rates
The Federal Reserve is broadly anticipated to leave its benchmark interest rate unchanged at Wednesday’s policy meeting.
Rates have remained elevated throughout the year as the Fed works to combat inflation, holding off on cuts due to concerns that President Donald Trump’s tariffs could drive consumer prices higher.
Trump has consistently criticized the Fed for not lowering rates and may once again ramp up pressure if officials stick with the current rate level.
Yesterday the President called Fed Chair Jerome Powell a “numbskull.” According to the President, lowering rates by two percentage points would save the U.S. $600 billion per year. “But we can’t get this guy to do it,” he remarked about Powell. Trump said he “may have to force something” if inflation is trending down and the Fed Chair does not lower interest rates.Bottom of Form
Oil Prices Could Surge Past $90
We could be seeing oil prices move beyond $90 amid rising tensions from the escalating Israel-Iran conflict in the Middle East.
Oil prices could rise significantly beyond Friday’s 7% surge, with Wall Street analysts cautioning that the commodity may exceed $90 a barrel if the Israel-Iran conflict intensifies.
On Friday, West Texas Intermediate futures (CL=F) closed at $72.98 per barrel, while Brent crude (BZ=F), the global benchmark, settled at $74.23. Both benchmarks gave back some of their overnight gains, which at one point saw prices jump more than 13%.
Goldman Sachs analysts project the conflict could temporarily disrupt about 1.75 million barrels per day of Iranian oil supply over six months. That shortfall would be only partially offset by additional production from other OPEC+ members. “We estimate that Brent jumps to a peak just over $90/bbl but declines back to the $60s in 2026 as Iran supply recovers,” wrote Goldman’s Daan Struyven and his team in a note released Friday morning.
The potential for further price increases will hinge on Iran’s response to Israel’s strike on its nuclear facilities. A wider conflict involving key regional producers or any disruption to the Strait of Hormuz—which handles around 20% of the world’s oil supply—could drive prices up by approximately 35% from current levels.
Drone Maker Explodes in Public Debut
Airo Group Holdings Inc. soared 140% in its public trading debut on Friday, following a $60 million raise through its initial public offering, making it the third company this month to more than double on its first day of trading.
The stock, which at one point surged as much as 291%, faced multiple volatility halts before closing at $24 per share in New York. On Thursday, the aerospace and defense technology company upsized its IPO to 6 million shares and priced it at $10 each—below the previously marketed range of $14 to $16.
The explosive debut gives Airo, which generates most of its revenue from its drone-making operations, a market capitalization of $622 million based on the outstanding shares disclosed in its filing. Chirinjeev Kathuria, the company’s executive chairman, co-founder, and largest shareholder, had signaled interest in purchasing up to $5 million worth of shares at the offering price, according to the filing.
Top Gainers
Several stocks experienced significant gains. Some of the top gainers included:
- MP Materials Corp. (MP) moved higher 18.06%
- Oracle Corp. (ORCL) soared by 12.37%
- TransAlta Corp. (TAC) exploded 9.15%
- Genius Sports Limited (GENI) surged 8.53%
- Comstock Resources, Inc. (CRK) rose 7.69%
- AngloGold Ashanti plc (AU) moved up 7.46%
- Fabrinet (FN) jumped 6.93%
- Newmont Corp. (NEM) spiked 6.50%
- VEON Ltd. (VEON) moved up 6.45%
- Atour Lifestyle Holding Company (ATAT) surged 6.26%
Top Losers
The top US stock losers today, based on percentage change included:
- VEON Ltd. (VEON) moved lower 18.59%
- Archer Aviation, Inc. (ACHR) moved lower 14.83%
- Dave, Inc. (DAVE) sank 12.60%
- Applied Digital Corporation (APLD) fell 10.63%
- Newegg Commerce, Inc. (NEGG) down 10.17%
- Viking Therapeutics, Inc. (VKTX) moved lower 8.75%
- F. Corp. (VFC) sank 8.23%
- Telix Pharmaceuticals (TLX) dragged 8.06%
- WeRide, Inc. (WRD) moved down 7.97%
- Corpay, Inc. (CPAY) slumped 7.66%
Notables
- Visa (V) was the No. 1 trending ticker on Yahoo Finance on Friday after a Wall Street Journal report said major retailers like Walmart (WMT) and Amazon (AMNZ) are considering issuing their own stablecoins.
- Adobe (ADBE) shares fell despite the company raising its full-year outlook and reporting record-high salesin its second quarter.
- RH (RH) shares surged over 11% in early trading Friday after the company posted an unexpected first-quarter profit and reaffirmed its full-year guidance, easing investor concerns tied to tariffs and a sluggish housing market.
- Airline stocks are facing downward pressure as soaring crude oil prices threaten to increase their fuel expenses. United Airlines (UAL) led the declines, dropping 5.2% in pre-market trading. Shares of Delta Air Lines (DAL) fell 4.8%, Southwest Airlines (LUV) slipped 3.1%, and American Airlines (AAL) declined 4.3%.
- Shares of crypto-related names like Coinbase Global (COIN) and Strategy (MSTR) each fell more than 1%.
- Boeing (BA) slipped nearly 1% Friday, adding to Thursday’s 5% drop following the Air India crash involving a Boeing 787. GE Aerospace (GE), whose engines powered the jet, extended losses with a 1.7% decline after falling 2.6% the previous session. Spirit AeroSystems (SPR), which manufactures fuselages for Boeing, also fell Thursday.
- Cardinal Health (CAH) was flat after a 4.5% jump Thursday, driven by an earnings forecast raise for the current fiscal year. In an investor day presentation, the company highlighted “significant progress in mitigating tariff exposure.”
- Oracle (ORCL) edged lower following Thursday’s 13% surge, which came after upbeat earnings and guidance that impressed investors.
- Chewy (CHWY) dipped 0.5% Friday after gaining 1.5% Thursday on better-than-expected earnings and revenue.
- Chime Financial (CHYM) added another 0.6% early Friday, extending its rally after a strong IPO debut Thursday. Shares opened at $43—roughly 60% above the $27 offering price—continuing a recent streak of robust public market entries.
- Tesla (TSLA) declined nearly 1%, while other big tech and AI names—Nvidia (NVDA), Amazon (AMZN), Advanced Micro Devices (AMD), and Palantir (PLTR)—fell 1% to 2% in pre-market trading, as investors rotated away from growth stocks amid geopolitical uncertainty. Tesla also came under pressure after former President Trump signed a joint congressional resolution to block California’s ability to set its own vehicle emissions rules, according to Barron’s.
- Risk-off sentiment weighed on other popular names as well, including AppLovin (APP), Super Micro Computer (SMCI), and Meta Platforms (META).
- In contrast, defense stocks surged. Lockheed Martin (LMT) gained 3.3% and Northrop Grumman (NOC) rallied 4.8% as hostilities escalated between Israel and Iran, boosting demand for defense-sector plays.
- Energy stocks followed oil prices higher, with Exxon Mobil (XOM) rising 2.7% and Chevron (CVX) up 2.3% early Friday. Crude jumped to $73 per barrel, up from recent lows in the $60s, amid concerns Iran could disrupt global oil exports. Still, ample supply may help contain further price spikes.
- Airline stocks were hit hard by rising geopolitical risks, with United Airlines (UAL) and Delta Air Lines (DAL) both sinking more than 5% on fears of declining travel demand.
- Adobe (ADBE) dropped 3.3% in pre-market trade, despite topping earnings and revenue estimates and raising full-year guidance—suggesting the bar was set even higher by investors.
- Arista Networks (ANET) slid 2.4% early Friday amid the broader market pullback, after gaining 1.4% Thursday with no significant news. Shares remain below their early-2025 highs.
What to Watch Ahead
June 16: BOJ rate decision and expected earnings from Lennar (LEN).
June 17: May retail sales and May industrial production.
June 18: Fed rate decision, May housing starts, and May building permits.
June 19: U.S. markets closed for Juneteenth holiday observance.
June 20: May leading indicators and expected earnings from Accenture (ACN), CarMax (KMX), Darden Restaurants (DRI), and Kroger (KR).
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