BG News & Events

Stock futures are pointing lower ahead of the open, but markets are trading with a more constructive tone as investors react to a reversal in the energy shock that dominated markets earlier in the week. Oil prices, which had surged above $100 and briefly approached $120 per barrel during the escalation of the Iran conflict, are now pulling back after comments from Donald Trump suggesting the military operation could conclude sooner than previously expected. The shift in expectations is easing fears of prolonged disruption to energy shipments through the Strait of Hormuz and removing some of the inflation risk that had rapidly been priced into global markets over the past several sessions.The central macro story for markets remains the tug-of-war between geopolitics and macro fundamentals. The surge in oil earlier in the week raised fears that a renewed inflation shock could force central banks to delay rate cuts, particularly after the energy spike threatened to push transportation and manufacturing costs higher worldwide. As crude prices retreat, however, some of those stagflation concerns are temporarily fading, allowing risk assets to stabilize.Investors remain cautious because the underlying geopolitical situation remains fluid and any renewed disruption could quickly send oil prices higher again and reignite volatility across equities, bonds, and currencies. Traders are therefore watching headlines closely for signals about whether tensions are truly easing or simply entering a temporary pause.In pre-market trading, S&P 500 futures fell 0.25%, Nasdaq futures fell 0.14% and Dow futures fell 0.31%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Vertex Pharmaceuticalsup 6% after announcing data from a pre-specified Week 36 interim analysis of the ongoing Phase 3 RAINIER trial of povetaciceptBungeup 4% after authorizing the repurchase of up to $3B of the company's common sharesUP AFTER EARNINGS -United Natural Foodsup 2%DOWN AFTER EARNINGS -BioNTechdown 18%FreightCar Americadown 15%Casey's General Storesdown 3%Kohl'sdown 2%Vail Resortsdown 2%HP Enterprisedown 1%

As part of Bunge's approach to capital allocation and commitment to shareholder returns, Bunge has announced a target to returning a minimum of 50% of its discretionary cash flow to shareholders through dividends and share repurchases across the cycle. In connection with this target, Bunge's board of directors has authorized the repurchase of up to $3B of Bunge's common shares.