Renewed Spike In Crude Oil Prices May Weigh On Wall Street
Oil prices swung after 9 tanker attacks this month, and the International Energy Agency said it could release more reserves to calm supply fears.
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The Nasdaq lost 1.25% and the expanded S&P 500 index fell 0.47%. Only the Dow Jones managed to grapple 0.10%. "The market has received a double blow," says AFP Adam Sarhan, an analyst at 50 Park Investments. The rebound in oil prices has weighed on the indices since the opening. Operators are concerned that the Gulf's exports will be further tarnished in the face of increased incidents involving ships in the region, particularly around the strat…
Renewed Spike In Crude Oil Prices May Weigh On Wall Street
After ending the previous session modestly lower but well off their worst levels, stocks are likely to see further downside in early trading on Thursday. The major index futures are currently pointing to initial weakness on Wall Street, with the S&P 500 futures down by 0.4 percent.
Fears of a renewed escalation of the Persian Gulf continue to drive up prices for oil and gas. It is likely to be expensive for many households.
US stock markets fell further from record levels on Thursday, while the oil price rose again above 100 dollars per barrel. Investors fear that escalating tensions surrounding Iran, attacks on ships in the Strait of Hormuz, and disruptions to US oil production...
Iran Risk Returns as Thin Oil Buffers and 5.35% Yields Test Equity Resilience - ActionForex
Global risk sentiment weakened on Thursday as Brent briefly pushed above $105 on renewed reports of possible US military action against Iran, while the US 10-year Treasury yield returned to around 5.35%, close to levels last seen in 2002. US equity futures fell and Asian stocks were broadly lower. The Dollar was broadly the strongest major, with the Yen and Swiss Franc relatively resilient.
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