In This Article:
Israel launched strikes on Iran overnight targeting nuclear facilities and military leaders, causing damage in Tehran but no reported radiation leaks.
Morning Brief host Brad Smith breaks down the US market (^GSPC, ^IXIC, ^DJI) reaction, including rising oil (CL=F, BZ=F) prices and gains in US defense stocks such as RTX (RTX), Lockheed Martin (LMT), and Northrop Grumman (NOC).
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
Israel began a major operation against Iran late Thursday, launching a series of strikes aimed at Iran's nuclear program and military leaders. Security camera footage captured explosions in Tehran overnight. Footage aired by Iran state media showed columns of smoke rising over Iran's main nuclear enrichment facility after the strike, but early reports suggest no elevated levels of radiation. Buildings in Iran's capital sustained damage during the strikes, and Israeli Prime Minister Benjamin Netanyahu said the military operation would last, quote, "as many days as it takes," unquote. Iran retaliated early Friday with over 100 drones, the nation's military reported. Oil prices surged Friday as a result of the escalating attacks and crude oil prices erased year-to-date losses driven by global tensions and OPEC plus output. Bloomberg Economics projected oil prices could reach as high as $130 per barrel. US defense stocks rose sharply higher in early Friday trading as well. Secretary of State Marco Rubio said Washington was not involved in Israel's attacks, urging Iran not to target US personnel in the region. President Trump called on Iran to make a nuclear deal before there is nothing left in a post on Truth Social early on Friday, warning that Israel's next attacks could be even more brutal.