Gary Black: U.S. stocks fall as Brent crude rises after escalation in Hormuz

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Parshwa Turakhiya

1 hour ago

Gary Black: U.S. stocks fall as Brent crude rises after escalation in Hormuz — U.S. stocks fall as Brent crude jumps

Gary Black, managing partner, investor at The Future Fund, reported that U.S. stocks declined, with SPX down 0.8% and NDX down 1.1%, after the U.S. struck over 80 Iranian targets. President Donald Trump declared the June ceasefire "over" following Iran's attacks on merchant ships in the Strait of Hormuz.

Brent crude prices rose 6% to $78 per barrel amid the renewed tensions, and Black highlighted that S&P 2026 EPS estimates have increased by 25%.

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Earlier, Black noted that U.S. stocks slipped as weak Samsung earnings weighed on AI chipmakers and pushed Brent crude prices higher. He has also highlighted relative valuations in tech, stating that SPCX investors were paying 150x 2026 EV/EBITDA compared to 19x for NVDA. Black’s recent commentary continues to track market reactions to both earnings and geopolitical events.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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