Oil Gains, Stocks Drop on Report of Iran Blockade: Markets Wrap
(Bloomberg) — Crude oil erased an earlier drop and advanced, while stocks declined after the Wall Street Journal reported that President Donald Trump told his aides to prepare for an extended blockade of Iran.
Brent advanced 0.4% to $111.66 a barrel, advancing for an eighth straight day. MSCIs gauge of Asian stocks dropped 0.4%, while equity-index futures for Nasdaq 100 and the S&P 500 Index pared their gains.
Trump has instructed aides to prepare for an extended blockade of Iran, US officials said, targeting the regime’s coffers in a high-risk bid to compel a nuclear capitulation Tehran has long refused, according to the WSJ.
Corporate News:
A constellation of artificial-intelligence stocks dropped after OpenAI reportedly failed to meet its sales and user targets. Kone Oyj is nearing a cash-and-stock deal to acquire TK Elevator, people familiar with the matter said, in what will be one of the biggest-ever private equity exits in Europe. Visa Inc. earnings topped estimates as consumers used the company’s branded cards for transactions across the world. Starbucks Corp. reported better-than-expected quarterly results and said it now sees comparable sales rising at least 5% this year, up from its previous view of 3% or more. Jack Daniel’s owner Brown-Forman Corp. and Jameson whiskey maker Pernod Ricard SA terminated talks about a potential merger. Some of the main moves in markets:
Stocks
S&P 500 futures were little changed as of 10:13 a.m. Tokyo time Hang Seng futures rose 0.3% Australia’s S&P/ASX 200 fell 0.6% Euro Stoxx 50 futures fell 0.2% Currencies
The Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1708 The Japanese yen was little changed at 159.64 per dollar The offshore yuan was little changed at 6.8382 per dollar Cryptocurrencies
Bitcoin fell 0.2% to $76,342.9 Ether fell 0.5% to $2,283.86 Bonds
Australia’s 10-year yield advanced four basis points to 5.06% Commodities
West Texas Intermediate crude rose 0.3% to $100.20 a barrel Spot gold fell 0.3% to $4,583.44 an ounce This story was produced with the assistance of Bloomberg Automation.
–With assistance from Rob Verdonck and Abhishek Vishnoi.
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