Global Markets
Home›Global Markets›Trade & Tariffs›Stocks edge up as US-Iran hostilities pause lifts oil…
Stocks edge up as US-Iran hostilities pause lifts oil and sentiment
Brent crude fell 5.4% to $86.74 a barrel for October delivery, while the S&P 500 was up 0.6% and the 10-year Treasury yield slipped to 4.65% ahead of the Fed meeting.
Global markets traded higher on Monday as a pause in US-Iran military attacks eased concerns about disruption to global energy supplies, helping lift sentiment as oil prices retreated.
According to LiveMint Markets, by 9:55 a.m. Eastern Time the S&P 500 was up 0.6%, the Dow Jones Industrial Average rose 1.0%, and the Nasdaq Composite gained 0.7%. At the opening bell, the Dow was up 226.2 points, or 0.4%, to 5,2173.42, while the S&P 500 rose 52.2 points, or 0.7%, to 7,464.2 and the Nasdaq increased 260.4 points, or 1.0%, to 25,236.185.
Oil and rates also moved. Brent crude fell 5.4% to $86.74 a barrel for October delivery after surging last week on escalating US-Iran tensions, and U.S. Treasury yields eased as investors positioned ahead of the Federal Reserve decision scheduled for Wednesday, with the 10-year Treasury note yield down to 4.65% from 4.69% at Friday’s close.
Technology stocks and company news provided additional support, with Microsoft up 2.6% and Alphabet gaining 2.8% ahead of a busy earnings week tied to insights on artificial intelligence and cloud spending, while Baker Hughes rose 8.6% after reporting a stronger-than-expected second quarter profit. Gold also climbed as crude hit a one-week low, with spot gold up 0.9% to $4,087.59 per ounce and gold futures for August up 0.5% to $4,090.
Latest closeGold $4,055.70 ▲0.2%|WTI crude $90.47 ▼1.9%|Brent $98.38 ▼2.3%