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U.S. Futures, Dollar Down After Missile Attack in Syria

The Street logo The Street 4/7/2017 Tom Terrarosa
U.S. Futures, Dollar Down After Syrian Attack© TheStreet U.S. Futures, Dollar Down After Syrian Attack

U.S futures were trading down Thursday evening after the U.S. government confirmed it had carried out a missile strike at Syrian government controlled air bases.

Dow futures were off by about 100 points, gold was up more than 1.22% and crude gained about 2%.

Meanwhile, Asian markets reversed their rally and were slightly lower across the board in midday trade Friday.

Jim McCaughan, CEO of Principal Global Investors was quoted in an interview with Bloomberg TV Thursday night as saying "The move to safe havens is more just in case anything goes wrong. If this turns out to be pretty surgical strike against the Syrian military, I think the market will get over it and recover again."

Defense stocks, including Lockheed Martin and Raytheon had been a mixed bag in after market trading Thursday, ahead of news of the missile strikes, but could feel a bump Friday after President Donald Trump demonstrated his first decisive act of military force as commander-in-chief.

Around 10 p.m. ET, the dollar was down 0.15%, while U.S. light crude futures were up nearly 2% to $52.69 a barrel.

The New York Times reported Thursday that President Trump had confirmed the U.S. States carried out the missile strike in response to the Syrian government's chemical weapons attack that killed 80 people earlier this week.

The Times reported that 59 Tomahawk missiles hit Al Shayrat airlfield in Syria, citing an undisclosed senior military official. The Times further reported that no Russian planes were at the airfield and that the attack did not target any Russian facilities, according to the official.

The attack comes barely 72 hours after the devastating chemical bombings in northern Syria, according to the Times.

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