ADDX GO Market Morning Wrap - 20th June
Stock Market
Amid fears of escalating tensions in the Middle East, During the U.S. market closure, major U.S. stock index futures also continued their downward trend.
According to media reports, White House Press Secretary Levitt announced on Thursday that President Trump will decide within two weeks whether to strike Iran.
Additionally, the foreign ministers of the UK, France, and Germany will meet with Iranian Foreign Minister Araghchi in Geneva on June 20 to discuss Iran’s nuclear program. If the meeting proceeds, it will mark the first face-to-face talks between Western nations and Iran since Israel’s large-scale “preemptive strike” on Iran on June 13.
For capital markets craving certainty, Trump’s “two weeks” statement remains vague—it could mean a precise 14-day deadline or an indeterminate future. As a result, Brent crude oil futures surged over 3% overnight, hitting a new high since the latest Israel-Iran conflict.
Friday’s reopening of U.S. markets coincides with a notable event—“triple witching day,” when stock index and individual stock derivatives expire simultaneously. With $6.5 trillion in nominal value options expiring this Friday, the event itself is unlikely to directly amplify volatility, but it could pave the way for heightened market fluctuations next week.
Global Hotspots
- White House: Trump to Decide on Iran Strike Within Two Weeks. On June 19, the White House stated that President Trump will decide within two weeks whether to attack Iran. Press Secretary Levitt added that communication with Iran continues, and Trump noted a “significant” chance for negotiations with Iran.
- American Airlines, United Suspend Some Middle East Flights. Per company statements and flight data, American Airlines has suspended its daily Philadelphia-Doha flights starting Wednesday, with plans to pause at least until June 22. The final Doha-Philadelphia flight before the suspension departed early Thursday. United Airlines also announced on Thursday the suspension of its daily Newark-Dubai flights, stating it will resume “when safe.”
- European “Starlink” Secures €1.35 Billion Investment Commitment. French satellite operator Eutelsat announced that investors, including the French government, have pledged €1.35 billion (approximately $1.5 billion) to support the expansion of its satellite constellation, Europe’s answer to Starlink.
Company News
- Musk’s Social Media Platform to Launch Financial Services. Linda Yaccarino, CEO of Elon Musk’s social media platform X (formerly Twitter), said users will “soon” be able to invest and trade on X. She added that X is exploring launching its own credit or debit card, potentially within the year.
- Midjourney Releases First Video Model. AIGC startup Midjourney unveiled its first video model on Thursday, enabling users to add animation to images. Initial outputs are 5-second clips, extendable up to four times (4 seconds each). The feature is web-only and requires a minimum $10 monthly subscription.
- French Utility EDF Warns Heat May Limit Nuclear Output. On Thursday, EDF warned that high temperatures may force it to curb nuclear power generation from June 25, as rising water temperatures in the Rhône River, used to cool some reactors, pose challenges.
Forex & Commodities
International oil prices rose.
NYMEX WTI crude futures climbed 0.52% to $73.88 per barrel, with intraday gains exceeding 3%; ICE Brent crude futures surged 2.66% to $78.74 per barrel, briefly crossing $79.
COMEX gold futures fell 0.61% to $3,387.40 per ounce, while London spot gold rose 0.06% to $3,370.40 per ounce.
COMEX silver futures dropped 1.5% to $36.36 per ounce, and London spot silver fell 0.93% to $36.373 per ounce.
The U.S. dollar index dipped 0.12% to 98.78, with most non-U.S. currencies declining.
Key Events
IMF Chief: Now Is the Time to Boost Euro’s Global Role. IMF Managing Director Kristalina Georgieva sees an opportunity to enhance the euro’s global role. On Thursday, she said, “The euro has a great opportunity to play a bigger role globally. When it comes to finding high-quality, safe assets, it faces constraints in providing them.”
Cryptocurrency
As of publication, Bitcoin rose 0.04% to $104,641.64.
Ethereum (ETH-USD) gained 0.18% to $2,528.51.
Key Events
- Medical Tech Firm Semler Scientific Dives Into Bitcoin. On June 20, Semler Scientific appointed Joe Burnett as Bitcoin Strategy Director. The company plans to hold at least 10,000 Bitcoins by the end of 2025 and 105,000 by the end of 2027, signaling a long-term bullish stance on cryptocurrency.
Market Events and Most Anticipated Earnings Releases
