Futures tied to the three major indexes all declined more than 1% on Friday after Israel launched a preemptive strike against Iran in a major escalation of the regional conflict. Israeli Defense Minister Israel Katz declared a special state of emergency, warning that “a missile and drone attack against the State of Israel and its civilian population is expected in the immediate future.” US officials confirmed that the United States had no involvement or role in the operation. Back home, investors turned their attention to the upcoming University of Michigan consumer sentiment report for June, which may offer insight into how households are responding to ongoing trade uncertainty. Earlier this week, softer-than-expected consumer and producer inflation figures reinforced expectations for additional interest rate cuts by the Fed later this year. In corporate news, shares of RH surged 20% in after-hours trading after the luxury furniture retailer posted stronger-than-expected earnings.