Key Takeaways Renewed US-Iran tensions pushed Brent crude briefly above US$80 , reigniting concerns over global energy supplies. Despite geopolitical uncertainty, Wall Street avoided a sharp sell-off , suggesting investors believe the conflict remains manageable for now. Higher oil prices have revived expectations of a Federal Reserve rate hike , as markets worry about renewed inflation. Technology stocks remained relatively resilient , showing that AI continues to provide underlying support for equities. The next move in oil prices could determine whether market volatility returns. Market Insight When news broke that the US had launched fresh strikes on Iran , investors immediately rushed into the oil market. Brent crude briefly climbed above US$80 a barrel , as fears grew that escalating tensions could disrupt supplies through the Strait of Hormuz , one of the world's busiest energy shipping routes. Yet the reaction in equities was far more measured. Although the S...
It hasn't been like this for a while but the US stocks saw a surge yesterday and rose across the board, supported by the jump in oil price while rally in Amazon.com just made S&P 500 to reach its best day in two months. Wall Street bullish All three major averages closed about 1.25 percent higher in high volume trade, with the Dow up about 222 points. S&P 500 jumped 1.25 percent to 2,084.39 while Nasdaq Composite added 1.26 percent to 4,809.88. Amazon.com jumped 3.43 percent to a record of $703.07, giving the biggest boost to the S&P 500 and the Nasdaq. All 10 major S&P sectors gained and seven of them were up over 1 percent, led by a 1.75 percent rise in the energy index. Oil rose over 4 percent as supply disruptions in Canada and elsewhere overshadowed fears of oversupply. International stock markets were helped by solid corporate earnings in Europe, progress on Greek debt talks, and a new pledge by Japan that it was prepared to weaken t...