Stryker was reportedly attacked by pro-Iranian hackers.
Stryker “is experiencing a global network disruption to our Microsoft environment as a result of a cyberattack,” the company said in a statement to CNN. “We have no indication of ransomware or malware and believe the incident is contained. Our teams are working rapidly to understand the impact of the attack on our systems. Stryker has business continuity measures in place to continue to support our customers and partners.”
In addition, CNN reported that, “The US intelligence community has issued a flurry of private warnings in the past week to American companies and government agencies urging vigilance and the hardening of possible targets of cyberattack by the Iranian regime in response to the war with Tehran.”
It’s another example of how poorly prepared we are for attacks. It’s also why related cybersecurity stocks are gaining traction today, including CrowdStrike, Palo Alto, and Fortinet.
Analysts at Wells Fargo just double upgraded OXY on the potential for stronger Permian productivity and improved capital intensity. The firm now has an overweight rating on the stock, with a price target of $69 per share.
“The analyst believes that if oil prices remain elevated, Occidental Petroleum could redeem these preferred shares in the second half of this year, freeing up more cash to return to shareholders,” as noted by CNBC.
Live coverage has ended. The full story is below.
Oil is back to $93.62 amid escalating tensions in the Strait of Hormuz.
Worse, there are now calls for $200 oil, worst case, which would wreak havoc on markets and your wallet. It’s why the S&P 500 is down 0.8%, or by 54 points this morning. The SPDR S&P 500 ETF (SPY) is down 0.75%, or by $5.82. The Dow is down 1%, or by 474 points. The Nasdaq is down 0.77%, or by 192 points. Gold is up fractionally at $5,172. Bitcoin is down to $70,109.
According to Energy Secretary Chris Wright, the U.S. Navy is not ready to begin escorting oil tankers through the Strait of Hormuz.
“It’ll happen relatively soon, but it can’t happen now,” Wright said, as quoted by CNBC. “We’re simply not ready. All of our military assets right now are focused on destroying Iran’s offensive capabilities and the manufacturing industry that supplies their offensive capabilities.” Wright added that aid is likely by the end of this month.
Not helping, three more foreign ships were hit last night – and until that’s brought under control, the idea of $200 oil is real. “Get ready for oil to be $200 a barrel, because the oil price depends on regional security, which you have destabilised,” Ebrahim Zolfaqari, spokesperson for Iran’s military command, said, as quoted by Reuters.
In addition, Iran’s new Supreme Leader, Mojtaba Khamenei, said all U.S. military bases in the Middle East should close immediately because those bases will be attacked. The closure of the Strait of Hormuz should be continued as a “tool to pressure the enemy,” he added.
All of which is pressuring markets badly.
According to JPMorgan, until the Strait of Hormuz is safe again, it’s best to go long energy stocks, such as the US Oil Fund (USO) and the First Trust Natural Gas ETF (FCG).
Or, if you want broader exposure to more energy names, here are three other ETFs.
SPDR Energy Select Sector ETF (XLE)
With an expense ratio of 0.09%, the XLE ETF provides exposure to companies in the oil, gas, and consumable fuels, energy equipment and services industries, according to State Street SPDR. Since the start of the year, the XLE ETF has traded from about $45 to a high of $57.88.
SPDR S&P Oil & Gas Exploration & Production ETF (XOP)
With an expense ratio of 0.35%, the ETF provides exposure 51 oil and gas exploration and production segment of the S&P TMI, which comprises the following sub-industries: Integrated Oil & Gas, Oil & Gas Exploration & Production, and Oil & Gas Refining & Marketing, as noted by State Street SPDR. Since the start of the year, the XOP ETF has traded between about $125 and $165.
iShares Global Energy ETF (IXC)
With an expense ratio of 0.40%, the iShares Global Energy ETF seeks to track the investment results of an index composed of global energy equities. Some of its 50 holdings include Exxon Mobil, Chevron Corporation, BP PLC, Total SA, and EOG Resources. Since the start of the year, the IXC ETF has traded between about $42 and $53.46.
Contact [email protected] for any questions or corrections.
Ian Cooper is a veteran market analyst and investment strategist with more than 20 years of experience covering stocks, commodities, and macro trends. Since 1999, he has helped investors identify market opportunities using a blend of technical analysis, fundamental research, and market sentiment.
He is the creator of the ADD News Flow Strategy, which focuses on trading market reactions to major news events and investor psychology. Cooper was also among the analysts who warned about the 2008 financial crisis and major financial institution collapses ahead of the broader market.
Before joining 247 Wall St., Cooper wrote extensively for InvestorPlace and other financial publications, covering market trends, trading strategies, and investment opportunities.
Well off their worst levels, the major indices are still stuck in the red. But that’ll happen when oil briefly touches $120. At the moment, the S&P 500 is down 1.05%, or by 71…
The rally was nice while it lasted. Unfortunately, with the U.S. and Iran unable to agree, the war continues. Oil is gushing higher. And there’s a good deal of uncertainty, especially with the U.S.…
With a shaky ceasefire and oil gushing back to $100, the major indices are down again. Israel hit Beirut. Tehran still has a chokehold on the Strait of Hormuz. And there’s uncertainty if talks…
Markets are mixed, as investors monitor war developments. At the moment, the S&P 500 is up about 0.04%, or by two points. The SPDR S&P 500 ETF (SPY) is down about 0.9%. The Dow…
Markets are rocketing on a U.S.-Iran ceasefire, the reopening of the Strait of Hormuz, and a massive pullback in oil prices (oil is now down $20 today). Just last night, Iran, the U.S., and…
Shy of two full weeks ago at the time of this writing, the US launched Operation Epic Fury to destroy the #1 state sponsor of Islamic terrorism’s military capabilities and its capacity to manufacture…
WTI crude is still near $90, up from $57 at the start of the year. That move did not happen in a vacuum. On February 28, 2026, the 2026 Iran war began, with immediate…
It’s ugly out there today. S&P 500 futures are down 1.62%, or by 111 points. The SPDR S&P 500 ETF (SPY) is down 1.64%, or by $11.23. The Dow is down 1.5%, or by…
The global energy map has been redrawn in weeks. With the Strait of Hormuz effectively closed since late February and U.S.-Iran peace talks collapsing in Islamabad, American oil producers are the unexpected beneficiaries of…
