Major U.S. Averages Decline Amid Escalating Geopolitical Tensions

The major averages were broadly lower as investors confront escalating U.S.-Iran tensions and a highly anticipated inflation report. The May CPI report showed annual inflation accelerating to 4.2% in May, which was in line with expectations but means that consumer prices rose at a faster rate for a third-straight month.Geopolitics are adding another layer of uncertainty. Renewed military exchanges between the United States and Iran have increased concerns about energy markets and global economic growth. Oil prices remain volatile as traders assess the risk of disruptions in the Middle East, particularly around the Strait of Hormuz. President Trump commented to reporters that the U.S. will be attacking Iran "very hard," building on his statement earlier on Truth Social that Iran took "too long to negotiate a deal that would have been great for them," so "now they will have to pay the price!!!"Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:SpaceX'sIPO has drawn over $250B of investor demand, dwarfing the $75B the company aims to raise,Chewyreportedand provided guidance for Q2 and FY26Cracker Barrelreportedand provided its outlook for FY26Super Microannounced $7B inLakeland Industriesreported better-than-expected2. WALL STREET CALLS:Niketo Sector Perform at RBC CapitalBarclaysOscar Healthon exposure to individual ACA marketBillto Hold at TruistCava Groupto Buy at UBSSharkNinjawith an Overweight at Piper Sandler3. AROUND THE WEB:Volvosaid that in Q2, customer demand and deliveries in Europe are stable at good levels across the business, while in North America, demand remains strong with production gradually increasing, Reuters reportsStarbucksis considering options for its Japanese business, recently holding preliminary discussion with investment banks to determine an approach, Bloomberg saysAmazon Web Services'Chief Marketing Officer Julia White has asked staff to recruit recently laid off employees from Meta, Business Insider reportsNovelis, an aluminum-rolling plant in upstate New York that supplies Ford Motorand other automakers, will restart production Wednesday nine months after a fire, WSJ saysIn a recently published report, White Diamond Research claims SEGG Mediais "a fake company"4. MOVERS:Clover Healthgains after announcing the Centers for Medicare & Medicaid ServicesHyliion Holdingsincreases after Needhamof the stock with a Buy ratingRobinhoodhigher after being approved to, a director bought $20.2M shares, and announcing metrics for MayDianthuslower afterits CIDP Phase 3 studyWolfspeedfalls after filing to sellof stock5. EARNINGS/GUIDANCE:J.Jilland reaffirmed guidance for FY26Hinge Healthfor FY26 and Q2Casey's General Stores, with CEO Darren Rebelez commenting on "another record fiscal year"Limoneira, with EPS missing consensusCore & Mainand reaffirmed its guidance for FY26INDEXES:Near midday, the Dow was down 1.28%, or 651.41, to 50,220.70, the Nasdaq was down 1.33%, or 342.66, to 25,336.16, and the S&P 500 was down 0.99%, or 73.45, to 7,313.20.