Wall Street Points Lower and Oil Prices Remain Above $100 with Iran a Dominant Force in Markets
S&P 500 and Nasdaq futures fell as benchmark crude held above $100 and gasoline averaged $4.53 a gallon, the AAA motor club said.
- Wall Street futures leaned toward losses early Tuesday, with the Nasdaq futures sliding 0.6% before the opening bell as oil prices remained above $100 per barrel.
- Prices rocketed higher after the Strait of Hormuz was effectively closed by Iran, preventing oil tanker deliveries and pushing crude well above the pre-war level of about $70.
- According to the AAA motor club, the average price for a gallon of gasoline rose to $4.53 overnight, marking an increase of about 43% compared to this time last year.
- President Donald Trump said in a social media post that he is holding off on a planned military strike on Iran because "serious negotiations" are currently underway.
- Investors are now awaiting first-quarter results from Nvidia due Wednesday, alongside reports from major retailers Target and Walmart expected this week.
15 Articles
15 Articles
The Virginian Pilot
Wall Street points lower and oil prices remain above $100 with Iran a dominant force in markets
Wall Street is leaning toward losses and oil prices remain above $100 per barrel as uncertainty about a resolution in the Iran war remains.
Futures on the Dow Jones Industrial Average are down 0.7 percent. Futures on the S&P 500 and the Nasdaq-100 each fell 0.4 percent. In Amsterdam, the AEX's loss has turned into a minuscule gain of 0.02 percent. This is mainly due to heavyweight Shell, which rose in value by 2 percent driven by rising oil prices. The other European stock exchanges are also limiting their losses.
MarketWatch
RocketNewsDow futures drop, oil prices push higher as Iran war remains stuck in stalemate
U.S. stock-index futures fell and crude prices rose on Sunday, after the market’s rally stalled last week as oil prices rose sharply amid the impasse in the war with Iran.
Oil shock in US is testing voters
The historic oil disruption, fueled by the ongoing stalemate in the Strait of Hormuz, is deepening economic divides in the US and casting a shadow over President Donald Trump’s political fortunes.Surging gas prices are squeezing low- and middle-income households — Americans have spent $45 billion more on gasoline and diesel during the war than over the same period last year — while boosting the coffers of energy firms, The Wall Street Journal re…
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