US pre-open: Futures slip after reported US strike on Kharg Island

(Sharecast News) - Wall Street futures were in the red ahead of the bell on Tuesday following reports that the US ‌military had conducted strikes ​on Iran's ​Kharg Island. As of 1300 BST, Dow Jones futures were down 0.45%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.48% and 0.60% softer, respectively.

The Dow closed 165.21 points higher on Tuesday, though a possible further escalation of US airstrikes in Iran limited upside across Wall Street.

According to Axios, which cited an unnamed senior US official, the US military struck Kharg Island early on Tuesday, something that was later confirmed by Iran's semi‑official Mehr News Agency.

Separately, Iran's Revolutionary Guard issued a warning to neighbouring states, saying "restraint is over" and threatening to target US and partner infrastructure in the region, as well as disrupt regional oil and gas supplies for an extended period.

The strikes come despite Donald Trump's vow to extend his deadline to destroy Iran's power plants and bridges until 2000 ET unless it reopens the Strait of Hormuz. They also come following a previous Axios report that said the US and Iran were discussing terms to reach a potential 45-day ceasefire that could lead to a permanent end to the conflict.

West Texas Intermediate was up 1.86% following the news at $114.39 a barrel, while benchmark Brent crude advanced 0.77% to $110.64 a barrel.

On the macro front, February durable goods orders will be publishedf at 1330 BST, while February consumer credit change figures were slated for release at 2000 BST.

In the corporate space, Levi Strauss & Co will report earnings after the close.















Reporting by Iain Gilbert at Sharecast.com