US stocks were set to open slightly lower from Wednesday’s close following yesterday’s Juneteenth market holiday as investors continued to assess the magnitude of geopolitical tension and its impact in the US economic outlook. Futures contracts for the three main averages were marginally below the flatline. President Trump stated that the decision to strike Iran would take up to two weeks to decide whether to strike Iran as there was still chance of a negotiation.
Still, Washington maintained its hawkish rhetoric against Tehran and Israel continued to strike Iranian nuclear sites, extending hesitancy for riskier equities. On the corporate front, energy producers were set to waver as benchmark oil prices trimmed their rallies. CarMax was due to open over 10% higher after delivering strong economic results. In the meantime, investors braced for some volatility ahead of the triple witching session, which marks the expiration of stock index futures, stock index options, and stock options.
