Markets slide as Iran tensions ignite oil rally ahead of CPI and earnings

Stock futures were mixed after a down day sparked by Trump’s Iran blockade and a sharp jump in oil prices; the S&P 500 fell about 0.8%, the Nasdaq dropped 1.6%, and the Dow slid roughly 0.3% as Brent crude surged around 9% to its highest level in weeks. Analysts expect S&P 500 earnings to grow about 23.6% year over year, with JPMorgan Chase, Goldman Sachs and Bank of America due to report, while June CPI data and Fed policy commentary loom. Asia-Pacific markets opened lower and Treasury yields rose on inflation worries.