Stock market today: Dow, S&P 500, Nasdaq futures slide as Iran war volatility continues

Market Overview - US stock futures stabilized after a volatile trading day, with S&P 500 and Nasdaq 100 hovering just below flatline, while Dow Jones futures slipped 0.2% following a nearly 1% decline in major US benchmarks on Tuesday [1] - The ongoing conflict in the Middle East, particularly the strikes by Israel on Tehran, has heightened investor concerns about inflation, contributing to significant market fluctuations [2] Oil Market Dynamics - Oil prices have surged over 2%, with Brent crude futures near $84 per barrel and West Texas Intermediate futures exceeding $76, driven by supply concerns amid geopolitical tensions [4] - Goldman Sachs has raised its 2026Q2 average oil price forecast for Brent by $10 to $76 per barrel and for WTI by $9 to $71 per barrel, citing expected declines in OECD inventories and geopolitical uncertainty [7] Gold and Silver Market Impact - The conflict has disrupted global flows of gold and silver, particularly affecting exports from Dubai, the second-largest gold exporter, due to flight cancellations [5][6] - Experts anticipate further price volatility in gold and silver markets as a result of these disruptions [5] Corporate Earnings and Market Reactions - Upcoming earnings reports from companies like Broadcom, Costco, and Alibaba are expected to draw investor attention, although the focus on earnings is muted this week [5] - In premarket trading, Ross Stores' stock rose 5% after beating analyst estimates, while GitLab's shares fell 9% due to expectations of slowing sales [9] Investment Trends - Foreign investors are retreating from Asia's markets, selling approximately $3.1 billion in South Korean shares and $3.6 billion in Taiwan, marking significant outflows driven by inflation fears linked to oil prices [10][11] - The selloff has particularly impacted high-flying chipmakers, with Samsung Electronics and SK Hynix each experiencing nearly 20% declines this week [11][12]