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US futures mostly lower and oil prices climb due to ongoing clashes around Iran
Brent crude rose 1.8% to $97.33 a barrel as renewed U.S.-Iran fighting lifted energy prices and pressured stock futures, analysts said.
- On Thursday, oil prices climbed as fighting between the U.S. and Iran intensified, with U.S. crude up 11% this week after the U.S. struck Iranian rocket launchers Sunday in the Strait of Hormuz.
- Iran fired at Kuwait on Thursday in retaliation for U.S. bombardments earlier in the week, deepening Middle East tensions as the U.S. said Iran planned to deploy mines into the waterway.
- Benchmark U.S. crude rose 2.1% to $92.92 a barrel, while Brent crude climbed 1.8% to $97.33, as rising oil prices added to inflationary pressures with the 10-year Treasury yield near 4.77%.
- The Dow Jones Industrial Average added 0.7% and the S&P 500 rose 0.5% in early trading Thursday, though Nasdaq futures slipped 0.2% as investors weighed geopolitical instability.
- Nvidia rose 1% after announcing a $13 billion deal to acquire Hugging Face, while the 2-year Treasury yield slipped to 4.36% ahead of Friday's crucial U.S. employment report.
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US stocks open higher while oil prices continue to climb
NEW YORK (AP) — U.S. stocks are opening higher while oil prices continue to climb amid ongoing tension in the Middle East. Fighting between the U.S. and Iran has increased this week after the U.S. hit Iranian rocket launchers on an island in the Strait of Hormuz on Sunday. The S&P 500 rose 0.5% in early trading Thursday. The Dow Jones Industrial Average added 368 points, or 0.7%, and the Nasdaq composite rose 0.6%. Nvidia rose 1% after the giant…
·Miami, United States
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Coverage Details
Total News Sources13
Leaning Left3Leaning Right0Center9Last UpdatedBias Distribution75% Center
Bias Distribution
- 75% of the sources are Center
75% Center
L 25%
C 75%
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