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Gulf War Flare-Up: What the Latest U.S.–Iran Strikes Mean for Your Wallet

  The three-month-old war between the U.S.–Israel coalition and Iran escalated again this morning. Here's a plain-English breakdown of what happened — and what it means for your gas tank and grocery bill. What Happened on June 6? U.S. forces struck Iranian coastal radar sites on Saturday, June 6, after shooting down drones launched by Iran toward the Strait of Hormuz, according to the U.S. military. The U.S. military believes the four Iranian drones were targeting regional maritime traffic. U.S. Central Command said it struck Iran's surveillance sites in Goruk and Qeshm Island, both located on the Strait of Hormuz. Iran did not take that lying down: Iran's Revolutionary Guard Corps said it had targeted U.S. bases in Kuwait and Bahrain in retaliation and fired on four tankers attempting to cross the strait without its permission. U.S. forces also helped shoot down incoming Iranian missiles and drones directed at Kuwait and Bahrain — a barrage of seven ballistic missiles in t...
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Stock Market Today: Investors Weigh Earnings and Trump's Stance on China

                                     

US stock futures struggled on Friday to pick up on the recent rally as investors filtered through the latest batch of earnings and weighed Donald Trump's hints at a softer stance on China tariffs. Dow Jones Industrial Average futures (YM=F) fell almost 0.3%, while S&P 500 futures (ES=F) nudged below the flat line after the index hit its first record high of 2025 on Thursday. Contracts on the tech-heavy Nasdaq 100 (NQ=F) were also little changed.

President Trump's call at Davos for cuts to US interest rates, oil prices, and taxes spurred investor optimism for his policies, buoying stocks. The major gauges are set to end the holiday-shortened week with gains above 2%, demonstrating the power of Trump's comments even as Wall Street questions his ability to order the changes. On Thursday, Trump said he'd "rather not" impose tariffs on China — a softening in stance that eased some fears over the potential for trade war. Chinese stocks (000300.SS) rose after the remarks in a Fox interview.

Spirits are also getting a boost from a strong start to earnings season, with Verizon (VZ) and American Express (AXP) on Friday's docket. But a key test is looming with Big Tech's big players set to report results next week. Meanwhile, Boeing (BA) shares slipped after the jet maker said it expects to book a $3.5 billion quarterly loss thanks to strikes and layoffs. Elsewhere in markets, oil (CL=F, BZ=F) prices gained on Thursday, but were still on track for a weekly loss as markets rode the Trump roller-coaster.

Investors were assessing not just the China shift but also the president's demand that OPEC bring down the cost of crude. Gold (GC=F) closed in on a record high as the dollar (DX-Y.NYB) pulled back, making the metal cheaper. Preliminary readings on US manufacturing and services activity in January will shed light on how the economy is faring ahead of the Federal Reserve's policy meeting next week.



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