Tension in the market continues as we get the latest headlines that show uncertainty on the geopolitical front.

Major indices, however, have trimmed earlier losses, and show resilience, after President Trump affirmed Iran officials called him to discuss the current situation.

Financials (XLF) are facing pressure this afternoon, driven by losses from fintech companies such as Mastercard (MA) and Visa (V). This move comes after reports that Amazon.com (AMZN) and Walmart (WMT) are considering stablecoin payment systems that would bypass traditional payment rails.

Energy (XLE) is rallying behind crude oil, which is up 6% at $72.14/bbl after marking an overnight high just below $78.00/bbl.

University of Michigan Consumer Sentiment index rose to  60.5 in June, its first improvement in six months, from 52.2 in May, and above expectations of 53.6.

One-year inflation expectations fell to 5.1% from 6.6%, and five-year expectations dipped to 4.1% (a three-month low). It indicates concerns over tariffs have eased.

Have a great weekend and happy Father's Day to all the dads​!