.jpg)
3 hours ago
1
Article content
(Bloomberg) — US stock futures recovered modestly and oil wavered as traders awaited news on whether the US is planning to become directly involved in the conflict in the Middle East.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
S&P 500 contracts rose 0.3% as investors also turned their focus to a Federal Reserve monetary policy decision. The US benchmark has swung between gains and losses since Israel started its attacks on Iran last week, pushing the VIX — Wall Street’s fear gauge — above the key 20 mark.
Article content
Article content
Article content
Brent crude fluctuated after rallying around 10% since the conflict broke out, trading above $76 a barrel, as fears of deeper US intervention fueled concerns over supply disruptions. Treasuries held most of their gains from Tuesday. Bloomberg’s index of the dollar slipped after rising the most in a month in the US session.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
Iran and Israel exchanged fire for a sixth day after Trump met with his national security team to discuss the escalating conflict, fueling fresh speculation that Washington is on the verge of joining the attacks. The meeting in the US capital on Tuesday lasted more than an hour, according to people familiar with the matter.
Article content
With Fed officials due to announce their policy decision later Wednesday, traders continued to wager on just shy of two quarter-point rate cuts this year — with the first move fully priced in for October. The Fed is expected to keep rates on hold in June and July, but may telegraph its intentions via revised economic and rate forecasts on Wednesday.
Article content
“The Fed is facing an unusually uncertain set of circumstances encompassing the cross-currents of tariffs, volatile energy prices, elevated geopolitical risks and a burgeoning budget deficit,” said Daniel Murray, chief executive officer of EFG Asset Management in Switzerland. “The Fed therefore has a strong incentive to wait and see how these various factors play out before determining the appropriate policy path.”
Article content
Article content
Some of the main moves in markets:
Article content
Stocks
Article content
- The Stoxx Europe 600 fell 0.1% as of 8:23 a.m. London time
- S&P 500 futures rose 0.3%
- Nasdaq 100 futures rose 0.3%
- Futures on the Dow Jones Industrial Average rose 0.1%
- The MSCI Asia Pacific Index was little changed
- The MSCI Emerging Markets Index fell 0.3%
Article content
Currencies
Article content
- The Bloomberg Dollar Spot Index fell 0.2%
- The euro rose 0.3% to $1.1517
- The Japanese yen rose 0.2% to 144.97 per dollar
- The offshore yuan was little changed at 7.1870 per dollar
- The British pound rose 0.3% to $1.3466
Article content
Cryptocurrencies
Article content
- Bitcoin rose 0.6% to $104,981.7
- Ether rose 0.6% to $2,525.75
Article content
Bonds
Article content
- The yield on 10-year Treasuries advanced two basis points to 4.41%
- Germany’s 10-year yield advanced one basis point to 2.55%
- Britain’s 10-year yield was little changed at 4.55%
Article content
Commodities
Article content
- Brent crude fell 0.5% to $76.08 a barrel
- Spot gold fell 0.2% to $3,380.80 an ounce
Article content
This story was produced with the assistance of Bloomberg Automation.
Article content
—With assistance from Rob Verdonck and Abhishek Vishnoi.
Article content
English (US)