Summary: Wall Street futures decline as concerns over the Middle East and earnings reports weigh on investor sentiment.
Futures for Wall Street’s key indexes dipped as tensions in the Middle East escalated, prompting investors to seek safe-haven assets. A massive explosion at a Gaza hospital disrupted U.S. President Joe Biden’s diplomatic mission in Israel. Meanwhile, oil prices surged, driving gains in energy companies’ stocks, and gold prices rose on safe-haven demand. Investors also closely watched earnings reports from major banks and companies, including Morgan Stanley, State Street, U.S. Bancorp, and Citizens Financial Group. Federal Reserve officials and Minneapolis Fed President Neel Kashkari also made statements about inflation. Dow, S&P 500, and Nasdaq 100 e-minis were all down in early trading. Nvidia, United Airlines, American Airlines, and Delta Air Lines also experienced stock declines.
Tags: Middle East tensions, earnings season, oil prices, gold prices, bank earnings, Federal Reserve, inflation, stock market