The U.S. launched what it called "self-defense" strikes in Iran on Sunday, and President Donald Trump is telling everyone to calm down — Iran wants a deal, he says, and critics should stop second-guessing his strategy.
Markets seem to be taking the news in stride, at least for now. Dow futures rose 363.49 points, or 0.72%, to 51,032.46 early Monday. S&P 500 futures gained 21 points (0.28%) to 7,616.75, and Nasdaq 100 futures climbed 145.5 points (0.48%) to 30,552.00 as of around 3:31 a.m. EDT.
Oil prices, as you'd expect, are moving higher. WTI crude jumped 3.49% to $90.41 a barrel, and Brent crude added 2.17% to $86.01. Natural gas futures rose 3.13% to $3.393 per MMBtu. The U.S. dollar index edged up 0.07% to 98.98.
Asian markets were mostly higher, with South Korea's KOSPI surging 3.68% to 8,788.38 and Japan's Nikkei 225 rising 0.91% to 66,934.33.
What Happened Over the Weekend
According to U.S. Central Command, the strikes targeted Iranian radar and command-and-control sites. The action was in response to "aggressive Iranian actions," including the shooting down of a U.S. MQ-1 drone operating over international waters. U.S. fighter aircraft disabled Iranian air defenses, a ground control station, and two attack drones that posed a threat to ships in the region.
In a separate development, Iran's Islamic Revolutionary Guard Corps (IRGC) claimed it struck a U.S. air base allegedly used to launch an attack on a telecommunications tower on Sirik Island, according to an Iranian state-affiliated news outlet.
On Friday, the U.S. CENTCOM disabled a fifth commercial vessel, firing a Hellfire missile into the engine room of a Gambian-flagged ship that defied the U.S. naval blockade of the Strait of Hormuz. CENTCOM said the M/V Lian Star ignored more than 20 warnings while heading toward an Iranian port in the Gulf of Oman.
Trump: 'Just Sit Back and Relax'
The two nations have been unable to finalize an agreement to end the four-month-long conflict. On Monday, Trump took to Truth Social to say that Iran is eager to reach a deal that would benefit the U.S. and its allies. He criticized Democrats and some Republicans for publicly second-guessing his approach to negotiations, arguing that such commentary makes it harder to negotiate effectively.
"Just sit back and relax, it will all work out well in the end — It always does!" wrote Trump, urging critics to be patient.
On Saturday, Trump indicated he is not in "a hurry" to reach a deal, emphasizing the importance of preventing Iran from obtaining nuclear weapons. He also sent back revisions to a proposed deal aimed at extending the current ceasefire and reopening the Strait of Hormuz, according to an Axios report.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by MarketDash editors.
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