US futures fall, oil jumps as hospital explosion raises concerns Middle East: stock market news today

By admin On Oct 18, 2023

Stocks pointed to a lower open on Wednesday, as escalating tensions in the Middle East were reflected in a jump in oil prices, and while technology results helped earnings season hit its stride.

Dow Jones Industrial Average (^ DJI) Futures fell nearly 0.2%, while the S&P 500 fell (^ GSBC) Futures fell 0.3%. Contracts on the highly technical Nasdaq 100 index (^NDX) decreased by 0.5%.

Caution prevailed in the markets as Israel and the Palestinian authorities exchanged blame over the attack Explosion in a hospital in Gaza Which killed hundreds of people.

President Joe Biden landed in Israel on Wednesday, but Jordan Cancel the planned summit With Arab leaders after the Gaza explosion. Biden commented that The “other team” was in charge It dampened hopes for a diplomatic solution and highlighted the risk of an all-out regional conflict.

Oil prices rose 3%, and gains accumulated after that The Iranian Foreign Minister called for a ban Against Israel. crude oil (each = qFutures rose to $89.22 per barrel, while the price of Brent crude rose (BZ = F) was trading at $92.39 per barrel at last check.

Higher fuel prices would give investors another inflationary factor to consider as they evaluate the Fed’s next move on interest rates. Major US stock indices Mostly flat closed Tuesday after Strong retail sales Expectations that the Fed will raise interest rates again this year have strengthened.

In terms of earnings, Procter & Gamble and Morgan Stanley will have third-quarter results again with reports expected before the bell. Later, Tesla (TSLA(And Netflix)NFLX) Technology leads Profits, keep a close eye on any The effect of “higher for longer” interest rates..

Among technology companies, ASML shares (ASML) (ASML.AS) after the fall of the Dutch chip equipment manufacturer Beware of fixed sales in the futureas customers slow down orders thanks to the uncertain economic backdrop.

Meanwhile, Nvidia (NVDA) The stock fell along with other semiconductor manufacturers after the United States tightened restrictions on exports of artificial intelligence chip technology to China, although there may be… The lifeblood of the rules.

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Stock futures fall as Middle East crisis shakes markets

Major U.S. stock indexes are poised for a quiet open on Wednesday amid rising tensions in the Middle East, as investors waited for Netflix and Tesla to kick off their tech earnings.

Futures contracts on the Dow Jones Industrial Average (^ DJI(decreased 0.34%, or 117 points, while the S&P 500 fell)^ GSBC) Futures fell 0.49%. Contracts on the highly technical Nasdaq 100 index (^NDX) decreased by 0.64%.