Oil Rises, Stocks Waver as US Strikes Dampen Peace Hopes
Oil Rises, Stocks Waver as US Strikes Dampen Peace Hopes
Oil prices rose on Tuesday and stocks dithered as investor optimism over an imminent U.S.-Iran peace deal was tempered by new U.S. strikes in the Middle East. U.S. forces conducted strikes in southern Iran in what was described as defensive action, while Tehran's top negotiator and foreign minister were in Doha for talks on a potential deal.
Mixed Market Signals
Brent futures rose more than 2% in Asian trade to $98.21 a barrel. U.S. West Texas Intermediate crude was slightly up from Monday but down 4.9% from Friday's close. Stock markets were mixed: MSCI's broadest index of Asia-Pacific shares advanced 0.67%, while Japan's Nikkei shed 0.14%.
Dollar and Bonds Steady
The dollar steadied on renewed safe-haven demand, though it remained some distance away from a six-week peak. Bonds were largely steady after a rout last week. Spot gold was down 1% at $4,525.18 an ounce.
Impacted Symbols
Symbols affected by this headline and their sentiment signals
Euro/US Dollar
Euro fell as the dollar strengthened on safe-haven demand.
Oil prices rose directly due to US strikes on Iran and delayed peace deal hopes.
WTI crude is trending up due to geopolitical tensions, but price action limited by Monday's holiday.
Japan 225 Index
Nikkei edged down on global uncertainty and higher oil costs, but impact is limited.
Nasdaq futures saw limited gains as the news has no direct impact on tech stocks.
S&P 500 futures edged up on general market expectations despite geopolitical risks, but impact is limited.
Euro Stoxx 50 futures eased slightly due to higher energy costs and uncertainty.
FTSE futures saw a limited increase as the news has no direct impact.
DAX futures declined slightly due to geopolitical tensions and rising energy prices.
Hang Seng Index Futures
Hang Seng rose on chipmaking sector gains, but geopolitical news had limited impact.
CSI300 dipped slightly on China's cross-border trading crackdown and geopolitical uncertainty, but impact is limited.
British Pound/US Dollar
Sterling weakened as the dollar strengthened.
US Dollar/Japanese Yen
The dollar was flat against the yen on safe-haven demand, but remained strong overall.
United States 10 Year Government Bonds Yield
10-year yield fell on inflation worries and geopolitical risks, with moderate impact.
GOLD (US$/OZ)
Gold fell despite reduced peace hopes, as investors shifted to riskier assets and the dollar strengthened.
S&P 500
S&P 500 index saw limited gains as the news has no direct impact on the broad market.
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