U.S. markets face geopolitical and corporate catalysts before Thursday open

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U.S. markets face catalysts

Highlights

U.S. Central Command strikes about 90 Iranian military targets, prompting oil prices to rise and inflation concerns ahead of Thursday's open.
Levi Strauss shares fall over 4% pre-market despite Q2 beats and guidance raise, signaling investor skepticism about future growth drivers.
A New York federal appeals court upholds E. Jean Carroll's $5 million jury verdict against Trump, maintaining pressure on the former president's finances.

Pre-market drivers shaping the session

As reported by CNBC, markets are opening Thursday with attention fixed on escalating tension between the U.S. and Iran after another round of American strikes and mixed signals from President Donald Trump about a possible deal with Tehran.

U.S. Central Command says Wednesday's strikes hit about 90 Iranian military targets. Trump tells reporters aboard Air Force One overnight that Tehran called to make a deal after the attacks, while also appearing to play down Iran's nuclear threat and saying U.S. troops would not be needed on the ground.

Oil prices rise again in the wake of the renewed strikes, adding another inflation-sensitive input for investors. Minutes from the Federal Reserve's June meeting, released Wednesday, show officials are divided on the path for interest rates, with energy prices among the issues discussed.

OpenAI also says it is publicly releasing the GPT-5.6 Sol, Terra and Luna models on Thursday, two weeks after limiting the rollout at the U.S. government's request. The announcement puts additional focus on AI-linked trading as the market weighs policy oversight against commercial expansion.

Company moves and legal developments in focus

Levi Strauss shares fall more than 4% before the bell even after the company posts better-than-expected second-quarter results, while also raising its guidance and dividend. CEO Michelle Gass says demand remains healthy and that key consumer segments are showing strength, with about two-thirds of the quarter's sales growth coming from unit volumes rather than only higher prices.

In the broader equity market, blue-chip stocks come under heavier pressure in Wednesday's session, with the Dow Jones Industrial Average dropping more than 1%. The Nasdaq Composite, however, resists the wider decline as traders bet recent volatility around memory stocks does not point to deeper fundamental weakness.

A New York federal appeals court denies Trump's bid to block E. Jean Carroll from receiving more than $5 million tied to a jury verdict that finds him civilly liable for sexually abusing and defaming her. Earlier in the day, a federal judge in the state grants Carroll's request to receive the $5 million plus interest.

SpaceX also finishes Wednesday's session below its debut trading price again despite supportive calls from Wall Street analysts including Morgan Stanley and UBS after its inclusion in the index. The move suggests investor caution remains in place even as some banks argue for longer-term upside.

In our earlier article on the Strait of Hormuz ceasefire breakdown, we explained how renewed maritime clashes and attacks on commercial vessels signaled that the temporary U.S.-Iran arrangement was quickly unraveling. We noted that Washington’s retaliatory strikes and tighter pressure on Iranian oil exports were increasing escalation risks while keeping potential disruption to a key global oil-shipping chokepoint in focus.

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