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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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Futures Slip as Wall Street Awaits Jobs Data and Defense Stocks Bounce Back

US stock futures drifted lower Thursday morning as investors positioned themselves ahead of fresh labor‑market data and monitored a sharp rebound in major defense stocks. The cautious tone follows a stretch of record‑setting gains, prompting traders to reassess risk amid shifting expectations for Federal Reserve policy and rising geopolitical tensions.

Nasdaq 100 futures dipped around 0.3%, while S&P 500 futures slipped roughly 0.2%. Dow Jones Industrial Average futures fell about 0.4%, extending the previous session’s uneven trading. Investors are watching closely for weekly jobless‑claims figures and Friday’s broader employment report, both of which could influence the Fed’s next interest‑rate decision.

Defense stocks, which tumbled a day earlier after criticism from President Trump, surged in premarket trading. Trump signaled support for dramatically higher military spending—potentially reaching $1.5 trillion annually—lifting shares of major contractors such as Northrop Grumman and Lockheed Martin.

Markets are also digesting heightened geopolitical risks, including US actions involving Venezuelan oil shipments, adding another layer of uncertainty for global investors.

With equities still hovering near historic highs, Thursday’s labor data may determine whether the recent rally regains momentum or pauses for a deeper cooldown.

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