Market News & Analysis

Equity Handover: US Stocks Shrug Off Middle East Tensions


  • US indices closed marginally higher, shrugging off geopolitical tensions in the Middle East.
  • Crude oil spiked 4% after an attack on two ships in the critical Strait of Hormuz, though it pared the gains to under 2% by the end of the day.
  • Energy stocks (XLE) were still the strongest sector on the day; Health Care (XLV) was the weakest.
  • In terms of macroeconomic events, traders are looking ahead to a series of economic reports out of China, as well as US retail sales tomorrow.
  • Stocks on the move:
    • Walt Disney (DIS) rose 4% on an upgrade from Morgan Stanley
    • Retailer RH (RH) surged 18% after reporting better-than-expected earnings
    • DryShips (DRYS) rallied 23% on news that it received a buyout offer from SPII Holdings
    • CrowdStrike (CRWD) gained another 19% to trade near $69 on its second day of trading, leaving shares up nearly 100% from yesterday’s IPO price of $34.

*There are no high-impact corporate announcements expected during tomorrow’s Asian session.*

Macroeconomic Calendar

*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.

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