FedEx does not expect the war in the Middle East to have a direct material effect on its business but warned of broader consequences to the overall economy. The parcel giant is raising its full-year profit forecast. Bloomberg Intelligence senior analyst Lee Klaskow joins Bloomberg Open Interest to talk about the results. (Source: Bloomberg)

S&P 500 Index futures are down 0.5% as of 7:50 a.m. in New York. Iran pressed ahead with attacks on Gulf Arab states even after Israel signaled it would stop targeting the Islamic Republic’s energy infrastructure.