Markets are attempting to rebound today after Friday’s sharp sell-off driven by the intensifying conflict between Israel and Iran. The ongoing missile and drone strikes have raised fears of a broader regional war, threatening global oil supplies and trade routes. This geopolitical backdrop, coupled with upcoming Fed decisions and recent inflation data, is keeping investors on edge. While sentiment has slightly improved in premarket trading, uncertainty remains high, especially around energy prices and central bank policy shifts.
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Futures on the US500 are up 0.65%, while the US100 gains 0.77%. Meanwhile, the VIX volatility index drops over 4%, signaling a modest decline in market anxiety after Friday’s spike.
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Among notable stock moves, Sage Therapeutics jumps over 35% following its takeover by Supernus, while Sarepta plunges nearly 40% after a patient death in a key gene therapy trial triggered a wave of downgrades.
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Market pricing for Fed cuts shifted slightly after soft CPI and PPI data last week — futures now imply nearly a full rate cut by September, but geopolitical tensions and energy inflation risk could delay action.
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Oil prices remain volatile, with Brent holding near $84 after spiking 10% last Friday; traders are watching closely for any disruption to shipping in the Strait of Hormuz, which handles ~20% of global oil flows.
US100 (H4 Time Frame)
The Nasdaq is recovering losses after Friday’s drop caused by Israel’s unexpected aggression against Iran. The U.S. index is currently testing a key resistance level at 21,873.39. The swift rebound in the US100 signals strength and resilience to geopolitical uncertainty. However, breaking above the 21,973 level may prove more challenging for the bulls, as it recently triggered strong selling pressure from investors.
Source: xStation 5
Company news:
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Sage Therapeutics (SAGE.US) surged +36% after the company agreed to be acquired by Supernus Pharmaceuticals in a deal valuing the neuroscience-focused biotech at $12 per share. The transaction is seen as a major premium and potential exit for investors following a turbulent year for Sage.
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EchoStar Corp (SATS.US) jumped +44.7% following extreme options activity, with a 102% delta hedge at 14-day peak volume. Traders are positioning for outsized upside amid strong momentum in satellite and telecom markets.
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Roku Inc. (ROKU.US) gained +10.3% after announcing a major advertising partnership with Amazon Ads, which will allow more than 80% of US households with connected TVs to be reached via Roku’s platform. Analysts see this as a strong monetization boost.
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Incyte Corp (INCY.US) climbed +8.9% after the company released promising trial data on its blood disorder therapy, which was well-received on Wall Street. Stifel raised their outlook, calling it a strong step forward in Incyte’s late-stage pipeline.
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Sarepta Therapeutics (SRPT.US) tumbled –39.3% as Piper Sandler and BMO downgraded the stock. The company reported a patient death tied to its experimental gene therapy, triggering major concerns about safety and regulatory setbacks.
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