Conflict Rattles Stocks, Bonds as Oil Holds Gains: Markets Wrap

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessConflict Rattles Stocks, Bonds as Oil Holds Gains: Markets WrapOil held near its highest close since mid-June — weighing on stocks and bonds — as an escalation in Middle East hostilities outweighed attempts to bring about a pause in the war.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.bk{jsz3kvtk273o592iekh8{_media_dl_1.png Nymex(Bloomberg) — Oil held near its highest close since mid-June — weighing on stocks and bonds — as an escalation in Middle East hostilities outweighed attempts to bring about a pause in the war. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe 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 ARTICLESSubscribe 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 ARTICLESCreate 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 accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountWest Texas Intermediate crude opened steady, as traders watched for disruptions to Saudi Arabian exports after Houthi rebels threatened to blockade a key export route through the Red Sea. Worries that higher energy costs could boost inflation spurred bond losses. Equity futures pointed to declines in Sydney and Hong Kong, while S&P 500 contracts were steady after the US benchmark dipped on Monday. Tokyo was set to open higher after a holiday. President Donald Trump vowed that Iran “will pay” for killing three US soldiers in recent days, even as mediators proposed a new truce. Saudi Arabia said it would take all necessary measures to protect its ships following the threats by the Tehran-backed Houthi militants in Yemen.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try again“The Iran situation continues to roil markets,” said veteran strategist Louis Navellier. “This is holding back the stock gains that should be expected given the strong earnings trends.”Meanwhile, the Trump administration is set to impose a fresh 50% tariff on some Canadian goods, citing what it said was unfair treatment by Ottawa of American alcohol, automobile and dairy products.This week brings the first results from the US megacaps, and pressure is building for the companies to justify AI investments. Tesla Inc. and Alphabet Inc. kick off big tech’s reporting season Wednesday. Then, Microsoft Corp., Meta Platforms Inc., Apple Inc. and Amazon.com Inc. hit the following week.“For stocks to rebound, we need some solid earnings from the key tech names this week, and de-escalation in Iran wouldn’t hurt,” said Tom Essaye at The Sevens Report. “Markets will want to see strong results and more signs of robust demand, but also evidence of restraint and a focus on stability.”Hedge funds pulled back from US tech stocks at a record pace over the past two months, according to Goldman Sachs Group Inc.’s Prime Services desk led by Vincent Lin.“The persistence and magnitude of selling since early June point to significant length reduction by tech investors, and some signs of capitulation are starting to emerge,” the desk wrote.Elsewhere, the Trump administration is set to impose a fresh 50% tariff on some Canadian goods under a never-before-used legal provision, citing what it said was unfair treatment by Ottawa of American alcohol, automobile and dairy products.Meanwhile, Treasuries tracked losses in UK gilts after new Prime Minister Andy Burnham unnerved investors over his approach to the country’s finances. The selloff on Monday pushed yields on long-dated gilts to their highest since late May after Burnham said he will seek “any flexibility” while following the government’s borrowing and spending rules. Some of the main moves in markets:Hang Seng futures fell 0.2% as of 7:03 a.m. Tokyo timeS&P/ASX 200 futures fell 0.4%Nikkei 225 futures rose 1.6%The Bloomberg Dollar Spot Index was little changedBitcoin fell 0.3% to $65,159.6Ether fell 0.3% to $1,900.22The yield on 10-year Treasuries advanced four basis points to 4.59%Spot gold was little changedWest Texas Intermediate futures for September were little changedThis story was produced with the assistance of Bloomberg Automation.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.