Oil Prices Sink 4% While Asian Shares Gain as Chinese Chipmaker CXMT Soars in Shanghai Trading Debut
Brent crude slid 5.2% as investors bet easing Gulf tensions will cool inflation and keep central banks cautious this week.
- On Monday, Asia-Pacific share markets rallied after a pause in Gulf fighting dragged oil prices sharply lower, easing inflation risks following five consecutive sessions of decline.
- Markets received relief after Iran said on Sunday it would halt attacks if the United States reciprocated, sending Brent crude down 4.6% to $92 a barrel.
- The pullback in oil helped 10-year Treasury yields fall to 4.63%, while Nasdaq futures jumped 1.3% and gold climbed 1.4% to $4,110 an ounce.
- A busy week lies ahead with central bank meetings, including the Federal Reserve, alongside earnings reports from Microsoft, Amazon, and Apple.
- Analysts at Goldman Sachs noted the July meeting outcome remains uncertain, with the probability of a rate hike rising to 36.3% amid divisions within the Federal Reserve.
47 Articles
47 Articles
Investors on Wall Street kept a low profile on Monday, primarily due to persistent concerns about the technology sector and increasing competition from China. Stock trading was supported, however, by the truce between the United States and Iran and a sharp drop in oil prices. As a result, oil companies lost ground.
Temple Daily Telegram
Stocks waver on Wall Street while crude oil prices fall for the first time in a week
Stocks drifted on Wall Street and oil prices fell for the first time in a week, even as heavy fighting in the Middle East again threatened to slow the global flow of oil. The S&P 500 was mostly unchanged Friday.…
Yakima Herald-Republic
Oil prices sink nearly 7% and world shares gain as Chinese chipmaker CXMT soars in Shanghai debut
Shares are mostly higher in Europe and Asia and oil prices have plunged nearly 7% after the U.S. and Iran paused their attacks while work resumed on a possible resumption of negotiations to end the war. U.S. futures advanced. Shares…
Associated Press News
Stocks waver on Wall Street and crude oil prices drop 5% as Mideast tensions cool
Stocks are wavering on Wall Street and oil prices are down 5% after the U.S. and Iran paused their attacks while work resumed on restarting negotiations to end the war.
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