Market News & Analysis

Equity Handover: US Stocks Shrug Off Middle East Tensions


Headlines

  • 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.


From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.