Stock Market Today: Dow Futures Fall; Israel-Iran Conflict in Spotlight — Live Updates
U.S. stock futures fell after President Trump left the G-7 summit a day early without new trade deals, and the Iran-Israel conflict stretched into a fifth day. Oil futures rose around 1%.
In leaving the summit in Canada early, Trump abandoned several conversations on trade, aimed at easing tensions over tariffs and other issues.
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Rick Rule warns the US dollar will ‘lose 75%' of its buying power in 10 years — why he puts his trust in gold
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. If you go by the official numbers, the inflation spike of 2022 may feel like a thing of the past. But according to legendary investor Rick Rule — former president and CEO of Sprott U.S. Holdings — the U.S. dollar's erosion in purchasing power is far from over. The culprit, he says, is America's massive and growing debt burden. 'The net present value of off-balance-sheet liabilities, which is to say Medicare, Medicaid, Social Security, federal pensions, military pensions — the net present value of unfunded federal promises in the United States exceeds $100 trillion,' Rule said in a recent interview with Kitco. While the official U.S. national debt currently stands at $36.22 trillion, some experts estimate that unfunded liabilities are upwards of $70 trillion, pushing the total past $100 trillion. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Rule warns that serving that debt will come at a cost to everyday Americans. 'We will have to allow the purchasing power of the U.S. dollar to decline so that we can honor our nominal debts while not honoring our real debts,' he explained in the interview. 'I believe because of this $100 trillion in unfunded entitlement liabilities, that the U.S. dollar will lose 75% of its purchasing power over 10 years.' It's a stark outlook — but not without precedent. Rule pointed to the dollar's steep decline in the 1970s as an example of how quickly purchasing power can evaporate. After all, $100 in 2025 has the same purchasing power as just $12.05 in 1970, according to the Federal Reserve Bank of Minneapolis inflation calculator. If Rule's prediction of a 75% drop in the U.S. dollar's purchasing power over the next decade proves accurate, it could mean serious trouble for anyone holding the greenback. So what does he rely on? 'I maintain liquidity in things like the U.S. dollar and the Canadian dollar — I save in gold,' he told Kitco. Gold has served as a store of value for thousands of years — and for good reason. Unlike fiat currencies, the precious metal can't be printed at will by central banks, making it a natural hedge against inflation and currency devaluation. Over the past 12 months, gold prices have surged by more than 40%. But Rule believes that's just the beginning, given how much real value the dollar is expected to lose. 'I believe that over the next 10 years, gold's appreciation, at least in nominal terms, will mirror the devaluation of the purchasing power of the U.S. dollar,' he said. 'I don't own gold because I hope it'll go to $3,500, I own gold because I'm afraid it'll go to $12,000.' Considering where gold is trading today, $12,000 would represent a potential upside of roughly 250%. Rule isn't alone in turning to gold as a safeguard. Ray Dalio, founder of Bridgewater Associates — the world's largest hedge fund — also sees it as a key component of a resilient portfolio. 'People don't have, typically, an adequate amount of gold in their portfolio,' he told CNBC earlier this year. 'When bad times come, gold is a very effective diversifier.' One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of American Hartford Gold. Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account — combining the tax advantages of an IRA with the protective benefits of investing in gold, making it an option for those looking to potentially hedge their retirement funds against economic uncertainties. Even better, you can often roll over existing 401(k) or IRA accounts into a gold IRA without tax-related penalties. To learn more, get your free 2025 information guide on investing in precious metals. Qualifying purchases can also receive up to $20,000 in free silver. Read more: Rich, young Americans are ditching the stormy stock market — Gold isn't the only asset investors turn to during inflationary times. Real estate has also proven to be a powerful hedge. When inflation rises, property values often increase as well, reflecting the higher costs of materials, labor and land. 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Yahoo
22 minutes ago
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🐐 Cristiano Ronaldo's tribute to Donald Trump
The world is watching the United States these days due to the FIFA Club World Cup dispute. However, there is one figure many people miss: Cristiano Ronaldo. A forward of his caliber and goal-scoring ability would shine in a tournament like this. But he wanted to make a gesture to the country's top leader. Cristiano Ronaldo has sent a signed jersey to Donald Trump with a clear message. "To President Donald J. Trump, playing for peace". A gesture to the 45th and 47th president of the United States. Advertisement Will we see them together at any match of the upcoming FIFA World Cup? This article was translated into English by Artificial Intelligence. You can read the original version in 🇪🇸 here.
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Stock market today: Dow, S&P 500, Nasdaq futures slide as Trump shakes hopes for an Israel-Iran truce
US stock futures retreated on Tuesday amid dwindling hopes for a quick resolution to Israel-Iran hostilities, as President Trump played down the prospect of a truce and air strikes continued. Dow Jones Industrial Average futures (YM=F) sank 0.5%, while those on the S&P 500 (ES=F) also fell 0.5%. Contracts on the tech-heavy Nasdaq 100 (NQ=F) also pulled back 0.6%. Overall, US stocks have so far proved resilient amid the conflict. The major gauges ended higher on Monday after a report that Iran is seeking a ceasefire and return to nuclear program negotiations. But Trump's overnight call for the evacuation of Iran's capital city amid a spike in Israel-Iran tensions has spooked markets worried about the risk of a descent into full-on regional war. The president's early exit from the G7 summit is also spurring fears of an escalation. Early on Tuesday, Trump rejected the idea he was working on a Middle East pause in hostilities, as suggested by France's President Macron. It "certainly has nothing to do with a Cease Fire. Much bigger than that,' he posted on social media. Pressed on what he was looking for, Trump said on Air Force One: "An end. A real end, not a ceasefire, an end." But the president did not provide more detail, including on next steps. Oil prices jumped nearly 2% as investors weighed the stream of remarks, with Brent futures (BZ=F) rising to almost $75 a barrel and West Texas Intermediate (CL=F) crude topping $73. At the same time, Wall Street is also grappling with concerns over Trump's trade policy and the direction of US interest rates. As the date for lifting the pause on Trump's sweeping tariffs approaches, US officials have used the G7 summit to pursue trade deals. The first completed deal emerged Monday, when Trump and British Prime Minister Keir Starmer signed off on the US-UK trade pact agreed in May. 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Economic data: Retail sales (May); Industrial production (May); NAHB housing market index (June); Import price index (May) Earnings: La-Z-Boy Incorporated (LZB) Here are some of the biggest stories you may have missed overnight and early this morning: Investor optimism has squashed another downbeat catalyst Trump: EU not offering fair trade deal, Japan being 'tough' too Trump says he wants 'real end' to conflict, not just ceasefire Anne Wojcicki's 23andMe bid may not end DNA data lawsuit How a prolonged Israel-Iran conflict could speed up Fed rate cuts US solar stocks slammed after Senate changes to tax bill Trump says he will probably extend TikTok deadline again SoftBank sells T-Mobile stake for $4.8 billion to fund AI push Here are some top stocks trending on Yahoo Finance in premarket trading: T-Mobile US, Inc. (TMUS) stock fell 4% in premarket trading on Tuesday, after SoftBank Group Corp. (SFTBF, SFTBY) managed to raise $4.8B via the sale of T-Mobile US Inc. shares. The move is set to help fund Softbank's plans for artificial intelligence. Microsoft (MSFT) stock fell over 1% before the bell today following reports that the Big Tech's relationship with OpenAI has become "strained." Per The Wall Street Journal, OpenAI executives are weighing the option of whether to accuse Microsoft of anticompetitive behavior, according to people familiar with the matter. Solar stocks dropped in premarket trading Tuesday after Senate Republicans released a bill that would end tax credits for wind and solar earlier that other sources. The news caused SunRun Inc. (RUN) stock to drop by 28% and SolarEdge Technologies Inc. (SEDG) by 21%. US solar stocks have tumbled after a Senate panel released proposals for an early and full phase-out of solar and wind energy tax credits on Monday. The plan to remove credits by 2028 are among the several changes put forward by a Republican-controlled panel to President Trump's "big beautiful" tax and spending bill. Shares of Enphase Energy (ENPH), which makes solar inverters, dropped 17% before the bell. Meanwhile, solar panel seller Sunrun (RUN) tumbled 26%, while its peer SolarEdge Technologies (SEDG) sank more than 20%. First Solar (FSLR) pulled back 11%. Gold (GC=F) prices rose higher Monday night as the ongoing Israel-Iran conflict pushed risk-averse investors into safer positions, such as gold as a haven asset. Bloomberg reports: Read more here. Yahoo Finance's Hamza Shaban writes in today's Morning Brief newsletter: Read more here. A standout record-setting rally in gold (GC=F) is about to peter out, Citigroup strategists said as they forecast a slide back below $3,000 an ounce for the precious metal in coming quarters. Bloomberg reports: Read more here. Economic data: Retail sales (May); Industrial production (May); NAHB housing market index (June); Import price index (May) Earnings: La-Z-Boy Incorporated (LZB) Here are some of the biggest stories you may have missed overnight and early this morning: Investor optimism has squashed another downbeat catalyst Trump: EU not offering fair trade deal, Japan being 'tough' too Trump says he wants 'real end' to conflict, not just ceasefire Anne Wojcicki's 23andMe bid may not end DNA data lawsuit How a prolonged Israel-Iran conflict could speed up Fed rate cuts US solar stocks slammed after Senate changes to tax bill Trump says he will probably extend TikTok deadline again SoftBank sells T-Mobile stake for $4.8 billion to fund AI push Here are some top stocks trending on Yahoo Finance in premarket trading: T-Mobile US, Inc. (TMUS) stock fell 4% in premarket trading on Tuesday, after SoftBank Group Corp. (SFTBF, SFTBY) managed to raise $4.8B via the sale of T-Mobile US Inc. shares. The move is set to help fund Softbank's plans for artificial intelligence. Microsoft (MSFT) stock fell over 1% before the bell today following reports that the Big Tech's relationship with OpenAI has become "strained." Per The Wall Street Journal, OpenAI executives are weighing the option of whether to accuse Microsoft of anticompetitive behavior, according to people familiar with the matter. Solar stocks dropped in premarket trading Tuesday after Senate Republicans released a bill that would end tax credits for wind and solar earlier that other sources. The news caused SunRun Inc. (RUN) stock to drop by 28% and SolarEdge Technologies Inc. (SEDG) by 21%. US solar stocks have tumbled after a Senate panel released proposals for an early and full phase-out of solar and wind energy tax credits on Monday. The plan to remove credits by 2028 are among the several changes put forward by a Republican-controlled panel to President Trump's "big beautiful" tax and spending bill. Shares of Enphase Energy (ENPH), which makes solar inverters, dropped 17% before the bell. Meanwhile, solar panel seller Sunrun (RUN) tumbled 26%, while its peer SolarEdge Technologies (SEDG) sank more than 20%. First Solar (FSLR) pulled back 11%. Gold (GC=F) prices rose higher Monday night as the ongoing Israel-Iran conflict pushed risk-averse investors into safer positions, such as gold as a haven asset. Bloomberg reports: Read more here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
