Iran has claimed to have shut the Strait of Hormuz, citing the U.S.'s failure to uphold commitments related to the conflict in Lebanon, which has prompted U.S. President Donald Trump to threaten further military action. This situation has resulted in a spike in oil prices, with Brent crude surpassing $80 per barrel, while U.S. stock futures fell across major indexes.
Additionally, UK Prime Minister Keir Starmer is reportedly set to resign following a significant election loss, which could lead to a leadership contest within the Labour Party. Investors are also looking ahead to MSCI's market-classification review, particularly for South Korea and Indonesia, as these decisions could influence investment flows.
In entertainment news, Disney's 'Toy Story 5' achieved a record opening weekend, generating $160 million, further solidifying the franchise's financial success