Israeli air force attacks missile sites as Iran launches new barrage

Despite ongoing tensions in the Middle East, the Dow and oil futures are climbing today as investors react to potential G-7 discussions on trade. The Israel-Iran conflict is now in its fourth day, but markets seem to be shrugging off immediate geopolitical risks—for now.

The G7 leaders are gathering at a tense moment, with wars in Ukraine and the Middle East intensifying. Their goal? To project unity and coordinate a response, but behind the scenes, there’s pressure to navigate divisions over how far to go in supporting Ukraine and addressing the humanitarian crisis in Gaza. Expect lots of diplomatic posturing—and maybe a few cracks in the alliance.

Iranian missiles struck the Israeli cities of Tel Aviv and Haifa, escalating tensions in the region. The attack marks a significant escalation in the long-standing conflict between Iran and Israel, raising fears of a broader regional war.

Rising oil prices are sparking concerns about a potential "adverse shock" to the global economy, even as markets show some resilience—like the FTSE 250's modest gains. Metro Bank's shares jumped 8.5% after reports of a takeover bid, but the bigger story is the looming threat of higher energy costs squeezing businesses and consumers worldwide.

Eli Lilly is making it easier for people to access higher doses of its popular weight-loss drug by offering them directly through its website. This move could help meet the overwhelming demand for these medications, which have been in short supply due to skyrocketing popularity.