U.S. Futures Slide After Iran Strikes; Fed Outlook, PMI Data in Focus

U.S. stock index futures dipped Sunday evening as investors responded to heightened geopolitical risks following U.S. airstrikes on Iran’s nuclear facilities over the weekend. The move, confirmed by President Donald Trump, has intensified concerns of a broader Middle Eastern conflict, particularly after Tehran vowed "everlasting consequences."

Futures React to Escalation

• S&P 500 Futures: -0.3% to 5,997.0

• Nasdaq 100 Futures: -0.5% to 21,746.5

• Dow Jones Futures: -0.3% to 42,376.0

Oil prices surged briefly, while equities reflected investor caution ahead of possible Iranian retaliation, including a reported plan to block the Strait of Hormuz, a key energy shipping lane.

Macro Data and Fed Testimony Ahead

Markets are also bracing for:

• Preliminary PMI data for June, due Monday, expected to show slower business activity.

• Jerome Powell’s two-day Congressional testimony, starting Tuesday, with further commentary on interest rates and inflation trajectory.

Last week, the Federal Reserve held rates steady and trimmed its rate-cut outlook for 2026, citing inflation persistence and tariff-related uncertainty.

Follow Fed Projections and Macro Trends

Track how Fed rate forecasts and macroeconomic indicators impact equity valuation using the Key Metrics (TTM) API. This provides real-time metrics like forward P/E, interest coverage ratio, and debt trends for S&P 500 components and more.