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Market Overview
The major U.S. stock indexes fell sharply on Friday, June 13, 2025, as escalating tensions between Israel and Iran rattled global markets and sent oil prices soaring. The Dow Jones Industrial Average dropped 1.08% to 42,503.72, while the S&P 500 declined 0.47% to 6,016.63, and the Nasdaq Composite fell 0.49% to 19,565.88.
This market pullback comes after three consecutive weeks of gains, as investors had been welcoming progress on trade deals and better-than-expected inflation reports. However, the overnight Israeli strikes on Iran’s nuclear facilities dramatically shifted market sentiment, with investors fleeing to safe-haven assets.
Middle East Conflict Drives Oil Surge
West Texas Intermediate crude futures, the U.S. benchmark, jumped approximately 8% to around $74 per barrel, after initially spiking as much as 13% in overnight trading – marking the largest single-day increase since March 2022.
“Should oil exports through the Strait of Hormuz be affected, we could see $100 oil,” said Andy Lipow, president of Lipow Oil Associates.
The energy sector was among the few bright spots in today’s market, with major oil companies seeing significant gains amid the price surge.
Corporate Spotlight: Oracle Soars on Strong Earnings
Despite the broader market decline, Oracle Corporation (ORCL) continued its impressive rally, gaining 7.54% to reach $214.94.
Oracle’s cloud services quarterly revenue rose 14% to $11.70 billion, with the company forecasting total revenue of at least $67 billion for fiscal 2026.
“Oracle’s once-stodgy image levels up to ‘cloud-native mage,'” said Michael Ashley Schulman, partner at Running Point Capital Advisors, noting the competitive landscape has shifted significantly.
Top Performers and Decliners
Among the top gainers on the S&P 500 were Darling Ingredients Inc. (DAR), up 12.97%, and RH (RH), which climbed 10.19%.
On the downside, Adobe Systems (ADBE) was among the worst performers, falling 5.94% to $389.11.
Safe Haven Assets Rally
As investors sought safety amid the geopolitical uncertainty, traditional safe-haven assets saw significant inflows. Gold prices climbed about 1.38% to $3,449.40 per ounce.
“The surge illustrates both immediate supply concerns and a growing sense that negative headlines could extend the timeline for escalation unlike prior Israel-Iran episodes,” said Ahmad Assiri, research strategist at Pepperstone.
Looking Ahead: Market Events to Watch
Investors will be closely monitoring developments in the Middle East over the weekend, with Israeli Prime Minister Benjamin Netanyahu warning that the military operation against Iran is expected to continue for “many days.”
Beyond geopolitical concerns, market participants will be focused on next week’s economic data releases, particularly as the Federal Reserve weighs the impact of rising oil prices on inflation against signs of a weakening job market. The recent producer price index (PPI) showed a smaller-than-expected increase of 0.1% in May, compared to the consensus estimate of 0.2%.
Additionally, investors will continue to assess the implications of the Trump administration’s trade policies, including the recent announcement of plans to stabilize import duties on Chinese goods at 55%, while those on U.S. goods into China would be set at 10%.
As the market navigates these complex crosscurrents, volatility is likely to remain elevated in the near term, with energy prices and geopolitical developments driving sentiment.