Sharp Rise in Crude Oil Prices Weighs on Wall Street
Brent crude surged 5% and U.S. crude rose 5.1%, sending Treasury yields higher and futures lower, analysts said.
- On Thursday, Wall Street stocks slipped as Brent crude jumped 5% to $105.16 per barrel, with the S&P 500 falling 0.3% in early trading amid global supply concerns.
- Crude prices surged following explosions reported in the Saudi capital, including at the Riyadh airport that halted flights, as Iran-backed Houthis have previously targeted kingdom infrastructure.
- The 10-year Treasury yield hit a 24-year high of 5.36% Wednesday due to inflation concerns, remaining close Thursday and hovering around 5.35% as bond markets reacted to volatility.
- Federal Reserve Governor Christopher Waller stated Thursday that additional rate hikes are likely, while PepsiCo posted better-than-expected revenue but cut earnings-per-share growth expectations for the year.
- Analysts expect S&P 500 companies to deliver nearly 30% earnings-per-share growth year-over-year, though inflation remains above the Fed's 2% target, creating pressure on both corporate margins and policy.
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U.S. Stocks Mostly Lower As Crude Oil Prices Spike
Stocks have moved mostly lower during trading on Thursday, adding to the modest losses posted in the previous session. The major averages have all moved to the downside, with the Nasdaq and S&P 500 pulling back further off their record highs. The major averages staged a brief recovery attempt after an early slump but have pulled back since then.
Sharp rise in crude oil prices weighs on Wall Street
Jumping oil prices are sending bond yields higher and stocks lower on Wall Street, as the price for a barrel of Brent climbs back toward $105. The S&P 500 fell in 0.3% in early trading Thursday and is heading toward a second modest loss after setting its all-time high. The Dow Jones Industrial A...
Developments in the oil and bond markets dominate the markets in the USA. There will be important impulses for the file markets in the coming weeks.
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Cryptocurrency News | Cryptocurrency Prices | Market CapDow Jones Today: Why US Stock Futures Are Falling As Hormuz Attacks Lift Oil
The post Dow Jones Today: Why US Stock Futures Are Falling As Hormuz Attacks Lift Oil appeared first on Coinpedia Fintech News Dow Jones futures fell 0.9% in premarket trading on Thursday, S&P 500 futures dropped 0.5% and Nasdaq-100 futures lost 0.7%, a day after US stocks slipped from record highs. Oil is the main pressure. Crude rose on supply worries from the Middle East, with attacks on tankers in the Strait of Hormuz hitting their highest …
Wall Street indices operate in decline, again pressed by the yields of the United States Treasury bonds, the Treasures, and the advance of Brent oil, which came to operate above US$ 105. Check out the performance of the indices around 11:28 (Brazilian time): What's up with Wall Street today? A [...]
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