Global Markets:
- Asian Stock Markets : Nikkei down 4.03%, Shanghai Composite up 0.07% Hang Seng up 1.80% ASX down 0.00%
- Commodities : Gold at $4,015.55 (-2.05%) Silver at $56.915 (1.03%), Brent Oil at 90.73 (2.99%), WTI Oil at $83.92 (2.57%)
- Rates : US 10-year yield at 4.569, UK 10-year yield at 4.9570, Germany 10-year yield at 3.1264
News & Data:
- (USD) Prelim UoM Consumer Sentiment 54.4 to 51.0 expected
Markets Update:
U.S. stock futures traded mixed early Monday after Wall Street’s major indexes ended last week lower, as rising tensions in the Middle East weighed on investor confidence and pushed oil prices higher.
S&P 500 futures gained 0.2%, while Nasdaq-100 futures advanced 0.5%. Dow Jones Industrial Average futures were little changed. Across Asia-Pacific, markets were mixed. South Korea’s Kospi fell 0.74% and the Kosdaq lost 1.66%, while Australia’s S&P/ASX 200 rose 0.34%. Japanese markets remained closed for a public holiday.
Last week, the S&P 500 declined 1.6%, the Nasdaq Composite dropped 2.9%, and the Dow slipped 0.9%. Semiconductor stocks remained under pressure, with the VanEck Semiconductor ETF losing nearly 9% for its third weekly decline in four weeks. BTIG chief market technician Jonathan Krinsky said the sector may see a short-term rebound but believes it is too early to call a market bottom.
Investors also monitored escalating tensions between the U.S. and Iran after another round of U.S. military strikes over the weekend. The conflict continued to fuel concerns over global energy supplies, lifting U.S. West Texas Intermediate crude above $85 a barrel and Brent crude above $91.
Markets are also preparing for a busy earnings week. Alphabet and Tesla are scheduled to report after Wednesday’s close, while Intel will release its quarterly results on Thursday.
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