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You are at:Home»Business»Oil, gold jump, stocks sink as Israel pummels Iran
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Oil, gold jump, stocks sink as Israel pummels Iran

Buddy DoyleBy Buddy DoyleJune 13, 2025No Comments3 Mins Read
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Oil, gold jump, stocks sink as Israel pummels Iran
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Investors flocked to safer assets, including gold and out of U.S. stocks, after Israel launched attacks against Iran’s nuclear sites. 

All three of the major U.S. averages fell Friday, erasing weekly gains, with the Dow Jones Industrial Average off over 500 points or 1%, while the Nasdaq Composite and S&P 500 lost 0.6% mid-afternoon.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 42239.1 -728.52 -1.70%
SP500 S&P 500 5989.51 -55.75 -0.92%
I:COMP NASDAQ COMPOSITE INDEX 19468.203336 -194.28 -0.99%

The strikes, which began late Thursday, drove oil prices up as much as 11% to the mid-$70 per barrel level, before halving those gains. ExxonMobil, Chevron and ConocoPhillips rallied, while the United States Oil Fund ETF headed for its best percentage gain since April. 

LIVE MARKET UPDATES: STOCKS, BONDS, OIL

OIL & ENERGY 

Ticker Security Last Change Change %
XOM EXXON MOBIL CORP. 111.93 +2.19 +2.00%
CVX CHEVRON CORP. 145.77 +0.80 +0.55%
COP CONOCOPHILLIPS 96.32 +1.63 +1.72%

“This will certainly do some damage to the inflation statistics if it doesn’t roll back soon,” wrote investor Louis Navellier in a note to clients. A report on consumer inflation or the CPI showed prices remain above the Fed’s 2% target level but still showed some relief. 

RISING BOND YIELDS

Bond yields, which had been drifting lower, marched higher with the 10-year Treasury back above 4.4%, partly tied to renewed inflation concerns. 

“This is a classic flight to safety and your seeing that in treasury yields” said Angel Oak Capital Advisors senior market strategist Frank Ros on ‘Mornings with Maria.’ “Today’s investors are concerned with tensions flaring up going into the future” he noted. 

Bond yields, 10-year

GOLD HITS NEW RECORD

Gold hit a fresh record, trading as high as $3,500 an ounce, rallying for the third straight session. The SPDR Gold Trust exchange traded fund, the largest backed by physical gold, is headed for a weekly pop of 3%. 

TRUMP DESCRIBES WHEN HIS RELATIONSHIP WITH ELON WENT SOUTH

FED WATCH

The Federal Reserve is not expected to adjust interest rates at next week’s meeting or in July, according to the CME FedWatch Tool, which tracks the probability of rate moves. There is a growing consensus that a rate cut could come in September. 

TRUMP NAME CALLS FED CHAIR POWELL

President Trump has been publicly needling Federal Reserve Chairman Jerome Powell to cut rates by a full percentage point, calling him a “numskull” and “Mr. Too Late” for keeping rates at current levels as foreign counterparts, including the European Central Bank cut rates. 

CRYPTOCURRENCY

Bitcoin, the largest cryptocurrency by market value, held at the $105,000 level and is sitting below its all-time high of $111,986.44.

Read the full article here

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