CNBC Business News Update - Sunday Night Update - Futures Lower, Oil Higher On US Weekend Strike on Iran

Episode Date: June 23, 2025

From Wall Street to Main Street, the latest on the markets and what it means for your money. Updated regularly on weekdays, featuring CNBC expert analysis and sound from top business newsmakers. Anchored by CNBC's Jessica Ettinger.

I'm Jessica Edinger CNBC Wall Street opens Monday morning with investors watching futures sliding oil rising following the U.S. bombing of Iranian nuclear sites. Oil prices jumped Bitcoin below $99,000 Sunday night as the U.S. attack on Iran triggers a crypto sell-off. The markets expected to react to the US entering the Israel-Iran conflict after bombing Iranian nuclear targets over the weekend. Sunday night, futures opened lower, pointing to a lower open on Monday morning

for the major stock averages. Oil and natural gas prices were higher. Oil is another major focus. The WTI crude US oil up 2% Brent. Of course the global benchmark up 2% and that gas popping about 1.3%. That's CNBC's Morgan Brennan. Here's RBC's head of commodity trading Halima Croft

who says Iran's retaliation, oh it's probably coming. What is the Iranian response? And I think a lot of people are saying, okay the worst is over, the United States hit these facilities, what can Iran do? probably coming. from President Trump seemingly signal that he is thinking about regime change. What cars do Iran have left to play? You target U.S. troops in the region, you go for energy supplies, you potentially drive up the price of oil and make people in the West rethink this action. And look at prices at the pump already. This is how it affects average Americans. AAA says the national average for a gallon of regular gas hit $3.22 yesterday. Gas prices are already up about 10 cents a gallon in less than a week. Here's CNBC's Brian Sullivan on what higher oil prices and higher gas prices mean for you, the consumer.

Higher oil prices and any further retaliation could have an impact on prices. Things that you pay, oil and gas, not just in your tank, they go into almost everything that you buy. So if we see that cost go up, it's possible inflation goes up, which might ultimately put a wrench in the Fed's plans to maybe cut rates later on this year. And interest rates impact you through the mortgage rate you get when you buy a home, the interest you pay on your credit cards and car loans and more. Aside from Middle East tension,

executives at Disney are heading for a rough morning after Elio disappointed at the box office over the weekend. It's Pixar animated adventure earning just $21 million, ranking it as the worst start in modern history for the studio, Pixar. Universal's How to Train Your Dragon remained at number one. Universal's a sister company to CNBC. On Monday's watch list, everything having to do with the Middle East oil prices and

stocks, as well as it's the first trading day officially of summer. We also find out existing home sales numbers for May and earnings are coming from home builder KB Home. Jessica Edinger CNBC.