Oil and Defense Higher; Newmont Safe Haven; Adobe Tumbles
Jun 13, 2025
Rising geopolitical tensions send oil prices soaring after Israel strikes Iran, causing fears of conflict in the Strait of Hormuz. Defense stocks, particularly RTX Corp., see gains as investors react to the escalating situation. Gold’s appeal also grows, with Newmont Corp. reporting a spike in shares as its risk premium rises significantly. Meanwhile, Adobe struggles with competitive pressures, impacting its market performance. The episode highlights significant movements in the stock market influenced by these current events.
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Oil Soars on Geopolitical Risk
Oil prices surged sharply after Israel's strikes on Iran, with Brent crude rising as much as 13% earlier in the day.
This geopolitical tension is driving energy company shares like Exxon, Chevron, and Occidental Petroleum higher.
insights INSIGHT
Gold Rises as Safe Haven Asset
Gold is rising as investors seek safe havens amid Middle East tensions, hitting the highest level in over a month.
Gold miners like Newmont and Northern Star benefit from this elevated gold risk premium.
insights INSIGHT
Defense Stocks Surge Amid Conflict
Defense stocks including RTX, Lockheed Martin, and Northrop Grumman surged on expectations of increased military spending.
The conflict boosts demand for defense equipment, with Israel relying on Lockheed jets.
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On this episode of Stock Movers: - Exxon (XOM) shares are higher this morning as Israel strikes Iran. Oil prices surged double digits after Israel carried out strikes against Iran, raising fears of a wider war in the region. The Strait of Hormuz, a critical oil chokepoint, is a key concern, with the potential for Tehran to retaliate and block the strait, and OPEC+ spare capacity potentially being challenged in such a scenario. - RTX Corp. (RTX) is higher this morning along with other defense stocks on the S&P as geopolitical tensions rise over Israel's strikes on Iran. It launched airstrikes against Iran’s nuclear program and ballistic-missile sites renewed a standoff between two adversaries that risks spiraling into a wider conflict. While the reaction was strongest in crude oil, other pockets of the market suggested that investors are watching how long the tensions will last and whether the situation escalates. - Newmont Corp. (NEM) shares are higher this morning as gold's risk premium is lifted by Israel's attack on Iran. According to Bloomberg Intelligence, Israel's attack on Iran could trigger a further jump in gold's risk premium above fair value of $100-$150 an ounce, pushing the metal beyond $3,600. Gold is expensive vs. almost every other financial yardstick and appears overvalued by $200-$700 an ounce vs. our three regression models, yet it's likely to remain a lead indicator. - Adobe (ADBE) shares are down in premarket trading on Friday, after the maker of software for creative-arts professionals reported second-quarter results that beat expectations. While it also raised its full-year forecast for some metrics, it affirmed its full-year growth forecast for annualized recurring revenue for its digital media business. Analysts said the results won’t quiet concerns over Adobe’s AI business or the impact of competition from other AI services.
Stock Movers