Hundreds of civilians were reportedly killed in Lebanon as Israel hit the region, despite the ceasefire is in effect in the Middle East. Iran condemned the strike, while Israel considers that Iran-backed Hezbollah in Lebanon are not covered under the deal.
Hundreds of civilians were reportedly killed in Lebanon as Israeli strikes hit the region, even as a ceasefire remains in effect across the Middle East. Iran condemned the attacks; however, Israel maintains that the Iran-backed Hezbollah group in Lebanon is not covered under the terms of the agreement.
Claiming a breach of the proposed ceasefire, Iran has closed the Strait of Hormuz. U.S. President Donald Trump warned of strong action should Iran fail to adhere to the ceasefire terms.
Oil prices rebounded on Thursday, with benchmark Brent crude trading up more than 3% at $98.15 a barrel. Gold prices remained mixed while the dollar gained slightly. Spot gold edged up 0.3% to $4,731.56 an ounce, whereas U.S. gold futures for June delivery fell 0.5% to $4,755.47.
Initial cues from the U.S. Futures Index suggest that Wall Street is likely to open lower on Thursday.
As of 7.50 am ET, the Dow futures were losing 183.00 points, the S&P 500 futures were down 18.75 points and the Nasdaq 100 futures were sliding 45.75 points.
The U.S. major averages end Wednesday narrowly mixed. The Dow spiked 1,325.46 points or 2.9 percent to 47,909.92, the Nasdaq surged 617.15 points or 2.8 percent to 22,635.00 and the S&P 500 shot up 165.96 points or 2.5 percent to 6,782.81.
On the economic front, the Gross Domestic Product or GDP for the fourth quarter will be issued at 8.30 am ET. The consensus is 0.7 percent, while it was up 0.7 percent in the prior quarter.
The Jobless Claims for the week will be released at 8.30 am ET. The consensus is 213K, while the initial claims was up 202K in the prior week.
The Personal Income and Outlays for February will be published at 8.30 am ET. The consensus is 0.4 percent, while it was up 0.4 percent in the prior month.
The Corporate profits for the fourth quarter will be revealed at 8.30 am ET. In the prior quarter, the after tax year-over-year was up 4.3 percent.
The Energy Information Administration or EIA's Natural Gas Report for the week is scheduled at 10.30 am ET. In the prior week, the gas stock was up 36 bcf.
Thirty-year Treasury Bond Auction will be held at 1.00 pm ET.
The Fed Balance Sheet for the week will be issued at 4.30 pm ET. In the prior week, the Level was up $6.675 trillion.
Asian stocks ended mostly lower on Thursday. China's Shanghai Composite index dropped 0.72 percent to 3,966.17 and Hong Kong's Hang Seng index fell 0.54 percent to 25,752.40.
Japanese markets ended lower. The Nikkei average dipped 0.73 percent to 55,895.32. The broader Topix index settled 0.90 percent lower at 3,741.47.
Australian markets eked out modest gains. The benchmark S&P/ASX 200 edged up by 0.24 percent to 8,973.20, while the broader All Ordinaries index finished marginally higher at 9,168.90.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.