US pre-open: Futures lower following America's 'self-defence strikes' on Iran

10th Jun 2026 10:26

(Sharecast News) - Wall Street futures were in the red ahead of the bell on Wednesday after Washington carried out what it described as "self‑defence strikes" against Iran, heightening tensions in the region and threatening progress toward a potential peace deal.

As of 1215 BST, Dow Jones futures were down 0.72%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.81% and 1.28% weaker, respectively.

The Dow closed 86.10 points higher on Tuesday, reversing losses recorded in the previous session.

However, futures headed south after the US launched strikes against Iran in response to the downing of a US Army Apache helicopter a day earlier, according to US Central Command. Donald Trump had accused Iran of shooting down the aircraft as it patrolled over the Strait of Hormuz.

Tehran has not claimed responsibility, though officials warned that foreign forces operating near Iranian territory face inherent risks from accidents, human error or crossfire.

Outside of Middle East tensions, market participants will be firmly focussed on a key US inflation print on Wednesday, with May's consumer price index due out at 1330 BST. Consensus estimates have annual CPI rising to 4.2%, with a 0.5% monthly increase - which would mark the first reading above 4% since May 2023.

Elsewhere on the macro front, US mortgage applications rose in the first week of June, according to the Mortgage Bankers Association, with overall volumes increasing by 10.8% week-on-week. The increase followed a 2.5% drop in the prior week and snapped a three-week run of decreases. It was also the highest rise since late February and came despite rising benchmark mortgage rates. Applications to refinance a mortgage, which are typically more sensitive to short‑term interest rate changes, shot up 15.3%, while applications to purchase a home were also higher, up 7.3% on the week.

In the corporate space, Oracle was slated to report its fourth quarter results after the close.

Reporting by Iain Gilbert at Sharecast.com