Market Futures Slip as Trump Threatens 'Tolls' at Strait of Hormuz; Intel, Getty Images, Hyperscale in Focus

MarketDash

Jun 22, 9:07 AM • 2 hours ago

Market Futures Slip as Trump Threatens 'Tolls' at Strait of Hormuz; Intel, Getty Images, Hyperscale in Focus

U.S. stock futures edged lower Monday as geopolitical tensions flared and key stocks made big moves. Intel jumped on a confirmed Apple partnership, Getty Images soared on an OpenAI deal, while Hyperscale Data tumbled on a $300 million offering.

Key Points

U.S. stock futures declined Monday, with the Dow, S&P 500, and Nasdaq 100 all in the red, as peace talks between the U.S. and Iran hit a rough patch. President Trump threatened to impose "tolls" on ships passing through the Strait of Hormuz if no deal is reached.
Intel (INTC) rose nearly 4% after President Trump confirmed a partnership with Apple (AAPL), extending last week's gains. Getty Images (GETY) skyrocketed 170% on a display agreement with OpenAI.
Hyperscale Data (GPUS) plunged 37% after announcing a $300 million at-the-market equity offering, while Sagtec Global (SAGT) surged 93% on strong 2026 revenue guidance.
Analyst Mohamed El-Erian warns that markets are misreading the new Fed leadership, and a recalibration period lies ahead. Key economic data, including PCE and GDP, are due later this week.

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U.S. stock futures slipped on Monday, pulling back after last week's gains, as geopolitical tensions took center stage. The Nasdaq 100, Dow Jones, and S&P 500 all pointed lower in premarket trading, with the Russell 2000 leading the decline.

The source of the jitters? Critical peace negotiations in Bürgenstock, Switzerland—led by Vice President JD Vance and Iranian Foreign Minister Abbas Araghchi—hit serious turbulence on Sunday. President Donald Trump took to Truth Social to issue an ultimatum, threatening severe U.S. military strikes that would dwarf those from the previous week if Iran doesn't immediately halt its "highly paid PROXIES in Lebanon."

In a Fox News interview, Trump went a step further, saying the U.S. intends to take control of the vital Strait of Hormuz and impose transit tariffs if diplomacy collapses. "If they don't make a deal, we'll collect tolls," Trump warned. The Strait is a critical chokepoint for global oil shipments, so the threat adds a new layer of uncertainty to energy markets.

Meanwhile, the 10-year Treasury yield sat at 4.49%, while the two-year yield was at 4.22%. According to the CME Group's FedWatch tool, markets are pricing in a 63.7% chance that the Federal Reserve will leave interest rates unchanged at its July meeting.

Here's how the major index futures were shaping up:

The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust ETF (QQQ), which track the S&P 500 and Nasdaq 100 respectively, were both lower in premarket. SPY was down 0.10% at $745.96, while QQQ declined 0.14% to $739.60.

Stocks In Focus

YY Group Holding

YY Group Holding Ltd. (YYGH) dropped 13.08% in premarket after the company announced a 30-for-1 reverse stock split aimed at regaining compliance with Nasdaq listing requirements. Market data indicates that YYGH maintains a weak price trend in the long, short, and medium terms.

Hyperscale Data

Hyperscale Data Inc. (GPUS) tumbled 36.66% after it announced a $300 million at-the-market equity offering. Market data shows GPUS maintains a strong price trend in the short and medium terms but a weak trend in the long term.

Sagtec Global

Sagtec Global Limited (SAGT) surged 92.93% after issuing financial year 2026 guidance projecting 35% revenue growth. The company forecast $25.78 million in revenue, up from $19.1 million in fiscal 2025. Market data indicates SAGT maintains a strong price trend in the short and medium terms but a weak trend in the long term.

Intel

Intel Corp. (INTC) rose 3.84%, extending last week's gains as President Donald Trump confirmed a long-rumored partnership between the chipmaker and Apple Inc. (AAPL). Market data indicates that INTC maintains a strong price trend in the short, medium, and long terms.

Getty Images Holdings

Getty Images Holdings Inc. (GETY) zoomed 170.20% after it announced a display agreement with OpenAI. Under the partnership, Getty Images' licensed content libraries will appear across OpenAI search and discovery experiences within ChatGPT. Market data indicates that GETY maintains a weak price trend in the short, long, and medium terms, with a poor growth score.

Cues From Last Session

Most sectors on the S&P 500 closed on a negative note on Thursday, with energy, financial, and health care stocks recording the biggest losses. However, consumer discretionary and information technology stocks closed the session higher.

Insights From Analysts

Mohamed El-Erian, the well-known economist, sees the U.S. economy and stock market navigating a profound, multi-layered transition. Geopolitical shifts—specifically the tentative U.S.-Iran negotiations—initially pushed oil prices down and risk assets up, fueling a "series of record highs for stocks." This reprieve dropped gas prices below $4 a gallon, offering tangible relief to American households.

But El-Erian warns that this economic stability faces imminent disruption. Geopolitical tensions threaten to choke supply lines, and the domestic policy landscape is fundamentally shifting. Under its new leadership, the Federal Reserve is undergoing "profound transitions." Markets reacted hawkishly to the latest FOMC meeting, as the rest of the Committee dropped its easing bias.

El-Erian observes that investors are misreading the central bank's trajectory by stubbornly relying on outdated assumptions. As he notes: "…too many interpreted the press conference using the old Powell-era playbook, including prematurely extrapolating policy signals while underestimating the new Chair's focus on institutional reform."

Ultimately, El-Erian expects a period of recalibration, concluding that "it will likely take another FOMC meeting or two for markets to view this fundamentally different Fed through an updated lens."

Upcoming Economic Data

Here's what investors will be keeping an eye on this week.

No major economic data is scheduled for Monday.
On Tuesday, June's flash U.S. manufacturing and services PMI data will be released at 9:45 a.m. ET.
On Wednesday, May's new home sales data will be out at 10:00 a.m., and the Federal Reserve Board will release its annual bank stress test results at 4:00 p.m. ET.
On Thursday, May's durable goods data, the third estimate of first-quarter GDP, initial jobless claims for the week ending June 20, and May's personal income, consumer spending, headline, and core PCE data will all be released at 8:30 a.m. ET.
June's Kansas City Fed survey data will be out at 11:00 a.m., and Chicago Fed President Austan Goolsbee will speak at the Chicago Council on Global Affairs at 6:30 p.m. ET.
On Friday, May's advance economic indicators report, along with May's wholesale and retail inventories data, will be out at 8:30 a.m. ET.
June's final University of Michigan consumer survey data will be released at 10:00 a.m. ET.

Commodities, Crypto, And Global Equity Markets

Crude oil futures were trading lower in the early New York session, down 0.69% to hover around $75.33 per barrel.

Gold spot rose 0.74% to hover around $4,191.05 per ounce. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was 0.12% higher at 100.9700.

Meanwhile, Bitcoin (BTC) was trading 0.18% higher at $64,018.97 per coin over the last 24 hours.

Asian markets closed higher on Monday, except Hong Kong's Hang Seng and Australia's ASX 200. China's CSI 300, India's Nifty 50, Japan's Nikkei 225, and South Korea's Kospi all rose. European markets were mixed in early trade.