Here are five key things investors need to know to start the trading day:
1. Middle East focus
Stock futures fell Tuesday as investors were watching the latest news from the Middle East, and the Israel-Iran conflict continued. President Donald Trump, meanwhile, left the G7 summit early to focus on the Middle East situation. Futures tied to the Dow Jones Industrial Average slid 235 points, or 0.5%. S&P 500 futures fell 0.5% and Nasdaq 100 futures shed 0.6%. Wall Street had a positive session on Monday despite the crisis in the Middle East. The S&P 500 advanced about 0.9% and the Dow added more than 300 points. The Nasdaq Composite rose 1.5%. Follow live market updates.
2. ‘Bigger’ things
Trump on Tuesday said his early exit from the Group of Seven summit was because of “much bigger” things than planning a ceasefire between Israel and Iran. This came after urging people to “immediately evacuate Tehran.” The Middle East strife also led to a joint statement from G7 leaders, which affirmed support for Israel and sought a resolution to the region’s tensions.
3. Win for OpenAI
The U.S. Defense Department has awarded OpenAI a $200 million contract to provide the department with artificial intelligence tools. The one-year contract was announced Monday. OpenAI said months ago that it would collaborate with Anduril, a defense technology startup, to deploy advanced AI systems for “national security missions.”
4. Amazon extends Prime Day
Amazon this year is extending its Prime Day discount event. The company announced that the annual sale will run for four days. The 96-hour event will begin at 12:01 a.m. PT on July 8, and continue through July 11, the company said in a release. In a first, Amazon will have themed “deal drops” that change daily and are available “while supplies last.”
5. Trump phone
The Trump Organization — which is owned by Trump — has unveiled plans for a $499 gold smartphone and mobile phone service for $47.45 a month. Like other products from the company, including watches, sneakers and Bibles, the new business venture is mostly a licensing agreement. It’s the latest example of the business empire capitalizing on its association with the president, which has drawn concerns about ethics from critics.
— CNBC’s Sean Conlon, Brian Evans, Anniek Bao, Jordan Novet, Annie Palmer, Kevin Breuninger and Michele Luhn contributed to this report.
