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☆ Stock Market News Today: Dow, S&P 500 Close Lower; Nvidia, Netflix Stocks in Focus
▼ + stars: | 2023-10-18 | by ( ) www.wsj.com time to read: +1 min

Long-term bond yields hit a fresh 16-year high, weighing on stocks already pressured by the conflict in Gaza and corporate earnings results. Higher bond yields make riskier assets like stocks look less attractive and push up borrowing costs for companies and households. Morgan Stanley's stock fell after the bank posted a drop in quarterly net income . Procter & Gamble shares gained after the company said its quarterly profit rose , boosted by price hikes. Brent crude rose 1.8% to $91.50 a barrel, lifted by concerns about the Israel-Hamas conflict and hopes for strengthening Chinese demand.

Persons: Biden, Morgan Stanley's, Brent Organizations: Treasury, Procter, Gamble, Netflix, Nasdaq, Semiconductor, Nvidia, AMD, Intel, United Airlines Locations: Gaza, Israel

☆ Stock Market Today: Morgan Stanley, P&G Earnings in Spotlight
▼ + stars: | 2023-10-18 | by ( ) www.wsj.com time to read: +1 min

Stock futures edged lower and oil prices rose as investors eyed more earnings from major companies and tracked the intensifying conflict in Gaza. Morgan Stanley 's stock fell premarket after it posted a drop in quarterly net income. Procter & Gamble reported a rise in quarterly profit , boosted by price increases. An explosion at a hospital in Gaza ratcheted up tensions, further spurring concerns of a wider regional conflict. Chinese stocks edged lower.

Persons: Morgan Stanley, Gamble, Biden Organizations: Procter, Netflix, Treasury, Nasdaq, Dow, Brent Locations: Gaza, China, Israel, Shanghai

While the human tragedy dominates the broader global news agenda, its hold on global markets has typically loosened pretty quickly. Inflation-adjusted real rates matter more when deciding whether to hold gold. The 2014 Gaza War lasted about six weeks and saw Israeli forces cross the border into Gaza. The 2008-09 Gaza War also echoes today's situation and saw Israeli forces cross into Palestinian territory. And over the course of the 2014 Gaza War Brent crude fell around $10 to $93 a barrel.

Persons: Dado Ruvic, Jim Reid, Brent, Michael Every, Jamie McGeever, Jonathan Oatis Organizations: REUTERS, Rights, Barclays, Deutsche, Benchmark, Swiss, Rabobank, Reuters, Thomson Locations: Rights ORLANDO , Florida, Israel, Lebanon, Gaza

☆ Gasoline prices fall as weakening demand sends refining margins crashing
▼ + stars: | 2023-10-18 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

Gasoline prices have been falling amid weakening seasonal demand, driving refinery margins lower. Gas prices were at $3.575 a gallon on Wednesday, according to AAA, down from $3.584 a day ago and $3.881 a week ago. AdvertisementAdvertisementAs winter approaches, it's chilling gasoline prices, too. Because gasoline is made from crude oil, anything that affects the crude oil markets tends to affect gas prices, just like it did when the Russia-Ukraine crisis hit last year. While Israel and Hamas are not major oil producers, an escalating conflict could drive crude oil prices higher, which would change the story for gas prices.

Persons: —, Brent Organizations: Bloomberg, AAA, Service, US Energy Information Administration Locations: Israel, Russia, Ukraine, Gaza, Iran

☆ Oil prices jump 2% on supply worries after large U.S. stock drawdown
▼ + stars: | 2023-10-18 | by ( ) www.cnbc.com time to read: +2 min

Oil prices gained nearly $2 in early trade on Wednesday after industry data showed a bigger-than-expected draw in U.S. crude stocks amid worries about supply disruptions from the Middle East due to a deepening Israel-Hamas conflict. Brent crude futures jumped $1.62, or 1.8%, to $91.49 a barrel at 0148, with markets also braced for Chinese GDP numbers. U.S. crude stocks fell by about 4.4 million barrels in the week ended Oct. 13, according to market sources citing American Petroleum Institute figures on Tuesday. Venezuela's government and its political opposition on Tuesday agreed to electoral guarantees for 2024 presidential elections, paving the way for possible U.S. sanctions relief that could boost oil supplies. The U.S. has imposed sanctions on oil exports from Venezuela since 2019 and while sanctions relief is expected to boost oil supply oil flow, analysts expect any increases from the country to take time due to a lack of investment.

Persons: Brent, Joe Biden Organizations: West Texas, American Petroleum Institute, U.S, Israel, Palestinian, Jihad, Hamas, Federal Reserve Locations: Israel, Gaza City, Beijing, U.S, Venezuela

☆ Asian shares pare losses on China data, Mid East risk lifts oil
▼ + stars: | 2023-10-18 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

Global bond markets also still nursed heavy losses as strong U.S. retail data argued for a punishingly long stretch of high rates. The outlook for the world economy did take a small turn for the better as China reported annual economic growth of 4.9% in the third quarter, beating forecasts for 4.4%. Retail sales and industrial output for September also surprised on the upside, suggesting activity had been gaining momentum. "A major spike in volatility and a downgrade of the global economic growth outlook is possible." Oil prices swung higher once more, driven by concerns over the Middle East and data showing a fall in crude stocks.

Persons: Issei Kato, Bonds, pare, Joe Biden's, Stocks, scurrying, Jerome Powell, Brent, Wayne Cole, Shri Navaratnam, Sam Holmes Organizations: REUTERS, Nikkei, SYDNEY, CBA, Japan's Nikkei, Nasdaq, Tech, Nvidia, Biden, Netflix, JPMorgan, Atlanta Fed, Federal Reserve, Bank of Japan, ., Thomson Locations: Tokyo, Japan, China, Gaza, Iran, Israel, Asia, Pacific

☆ Stock Market News Today: Dow, S&P 500 Slip; Nvidia, Netflix Stocks in Focus
▼ + stars: | 2023-10-18 | by ( ) www.wsj.com time to read: +1 min

Long-term bond yields hit a fresh 16-year high, weighing on stocks already pressured by the conflict in Gaza and corporate earnings results. Higher bond yields make riskier assets like stocks look less attractive and push up borrowing costs for companies and households. Procter & Gamble shares rose after the company reported a rise in quarterly profit , boosted by price hikes. The S&P 500, the Dow industrials and the Nasdaq Composite all traded in negative territory. The yield on the benchmark 10-year note rose above 4.9%, set to close at the highest level since July 2007.

Persons: Biden, Morgan Stanley's, Brent Organizations: Treasury, Procter, Gamble, Netflix, Dow, Nasdaq, Semiconductor, Nvidia, AMD, Intel, United Airlines Locations: Gaza, U.S, Israel

BANGKOK (AP) — Markets fell in Europe and Asia after China reported Wednesday that its economy grew at a 4.9% annual pace in July-September, down from 6.3% in the previous quarter. The future for the S&P 500 lost 0.2% and that for the Dow Jones Industrial Average was 0.1% lower. Weak global demand and the property industry remain the biggest shadows overhanging the economy in the near term, economists said. “The wider data on the property sector remained weak, although green shoots are appearing,” Capital Economics said in a report. Bank of New York Mellon rose 3.8% after it also reported stronger profit than expected for the latest quarter.

Persons: Germany's DAX, Wyndham, Brent, Writers Zen Soo, Stan Choe Organizations: —, CAC, FTSE, Dow Jones, Bureau of Statistics, Nikkei, Nasdaq, U.S, Treasury, Nvidia, Bank of America, Wall, Bank of New, Bank of New York Mellon, Wyndham Hotels, Resorts, ”, New York Mercantile Exchange, AP, Writers Zen Locations: BANGKOK, Europe, Asia, China, Paris, Shanghai, Tokyo, Bank of New York, Iran

REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsHONG KONG/LONDON, Oct 17 (Reuters) - Bond yields rose on Tuesday and stocks steadied as markets continued to retrace last week's moves to safe-haven assets, focusing on corporate earnings prospects and the resilience of the U.S. economy rather than tensions in the Middle East. Benchmark 10-year bond yields in the U.S. and Germany (Bunds) rose around 5 basis points (bps) on Tuesday having risen 5-8 bps Monday - bond yields move inversely to prices. Israel's shekel remained on the weak side of the 4 per dollar level it softened to for the first time since 2015 on Monday. Russian President Vladimir Putin on Tuesday arrived in Beijing to meet Chinese President Xi Jinping even as the war in Ukraine raged on. If investors do not receive the coupon payment, all of Country Garden's offshore debts will be deemed in default.

Persons: DAX, Kai Pfaffenbach, Banks, BNY, Goldman Sachs, We're, Jorge Garayo, Joe Biden, Israel, Israel's shekel, Vladimir Putin, Xi Jinping, BoE, Gold, Brent, Selena Li, Alun John, Shri Navaratnam, Ed Osmond, Alex Richardson Organizations: Deutsche, REUTERS, Bank of America, Treasury, Bund, Societe Generale, U.S, Israel, Hamas, Iran's, Tuesday, HK, Bank of England, Swiss, Venezuela, Thomson Locations: Frankfurt, Germany, HONG KONG, U.S, Iran, Gaza, Beijing, Ukraine, Friday's, Washington, Israel, Hong Kong, London

SINGAPORE, Oct 17 (Reuters) - Oil prices steadied on Tuesday after a more than $1 slide on Monday amid hopes the U.S. would ease sanctions on producer Venezuela and as Washington stepped up efforts to prevent an escalation of the war between Israel and Hamas. Both oil benchmarks surged last week on fears the conflict in the Middle East could widen, with global benchmark Brent gaining 7.5% in its highest weekly gain since February. The Biden administration has been seeking ways to increase the flow of oil to world markets to alleviate high prices. But any real oil output increase by Venezuela will take time due to lack of recent investments. Reporting by Sudarshan Varadhan; Editing by Sonali Paul, Muralikumar Anantharaman and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Brent, Nicolas Maduro, Maduro's, Washington, Joe Biden, Biden, Sudarshan Varadhan, Sonali Paul, Muralikumar Anantharaman, Kim Coghill Organizations: Venezuela, U.S, West Texas, U.S ., Organization of Petroleum Exporting, Brent, Hamas, ANZ Research, Thomson Locations: SINGAPORE, U.S, Washington, Israel, Venezuela, Gaza, Iran

SINGAPORE, Oct 17 (Reuters) - Oil prices fell slightly on Tuesday after a more than $1 slide on Monday amid hopes the U.S. would ease sanctions on producer Venezuela and as Washington stepped up efforts to prevent an escalation of the war between Israel and Hamas. Venezuela's government and opposition are set to resume long-suspended talks on Tuesday that President Nicolas Maduro said would benefit the upcoming 2024 election, a move that could lead to Washington easing sanctions, multiple sources said. The Biden administration has been seeking ways to increase the flow of oil to world markets to alleviate high prices. But any real oil output increase by Venezuela will take time due to lack of recent investments. Reporting by Sudarshan Varadhan; Editing by Sonali Paul and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Brent, Nicolas Maduro, Maduro's, Washington, Joe Biden, Biden, Sudarshan Varadhan, Sonali Paul, Muralikumar Organizations: Venezuela, U.S, West Texas, U.S ., Organization of Petroleum Exporting, Brent, Hamas, ANZ Research, Thomson Locations: SINGAPORE, U.S, Washington, Israel, Venezuela, Gaza, Iran

☆ Asia stocks rise on earnings hopes; keep wary eye on Mideast tensions
▼ + stars: | 2023-10-17 | by ( Selena Li | ) www.reuters.com time to read: +3 min

A man looks at an electric board displaying the Nikkei stock average outside a brokerage in Tokyo, Japan June 14, 2023. Overnight the S&P 500 (.SPX) had climbed 1%, while oil prices and the U.S. dollar had fallen. Benchmark 10-year Treasury yields are about 15 basis points off 16-year highs, though they crept higher in Asia trade Tuesday to 4.7331%. The euro traded at $1.0549 and the yen hovered just short of the 150-per-dollar mark at 149.53. If investors don't receive the coupon payment, all of Country Garden's offshore debts will be deemed in default.

Persons: Kim Kyung, Kerry Craig, Goldman Sachs, Morgan Stanley, Johnson, Craig, Joe Biden, Israel, Israel's shekel, Bitcoin, Selena Li, Shri Navaratnam Organizations: Nikkei, REUTERS, Tokyo's Nikkei, U.S ., Morgan Asset Management, Bank of America, Johnson, Netflix, Federal Reserve, Israel, Hamas, Iran's, HK, Brent, BlackRock, Thomson Locations: Tokyo, Japan, HONG KONG, U.S, Asia, Pacific, Gaza, Iran, Zealand, Brent

☆ Oil steadies on hopes of Venezuela sanctions being eased
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +1 min

SINGAPORE, Oct 17 (Reuters) - Oil prices stabilised on Tuesday after a more than $1 slide on Monday amid hopes the U.S. would ease sanctions on producer Venezuela and as Washington stepped up efforts to prevent an escalation of the war between Israel and Hamas. Brent crude futures were up 3 cents at $89.68 a barrel, while U.S. West Texas Intermediate crude (WTI) were down 11 cents at $86.55 a barrel as of 0113 GMT. Both oil benchmarks surged last week on fears the conflict in the Middle East could widen, with global benchmark Brent gaining 7.5% in its highest weekly gain since February. The Biden administration has been seeking ways to increase the flow of oil to world markets to alleviate high prices. But any real oil output increase by Venezuela will take time due to lack of recent investments.

Persons: Brent, Nicolas Maduro, Maduro's, Washington, Biden, Sudarshan Varadhan, Sonali Paul Organizations: Venezuela, U.S, West Texas, U.S ., Organization of, Petroleum, Brent, ANZ Research, Thomson Locations: SINGAPORE, U.S, Washington, Israel, Venezuela

The decline has been driven by weakness in producing fuels such as gasoline and naphtha, even as the margin on middle distillates has performed strongly. The trend for refining in Asia is increasingly characterised by strong margins for middle distillates, which are enough to offset weakness in gasoline and even losses for naphtha. Asia's total exports were 7.4 million metric tons in September, equivalent to about 1.85 million bpd, according to data from LSEG. Data from commodity analysts Kpler is also far from convincing, with just 660,000 metric tons of diesel shipments from China so far in October. Effectively, Asia's refiners are happy to suffer weak margins on fuels such as gasoline and naphtha because the profits on middle distillates are so high.

Persons: it's, refiners, Robert Birsel Organizations: REUTERS, Rights, China, Reuters, Thomson Locations: Kolkata, India, Rights LAUNCESTON, Australia, Asia, Singapore, Dubai, OPEC, Saudi Arabia, China, Beijing

Political Cartoons View All 1211 ImagesThe futures for the S&P 500 and Dow industrials were up less than 0.1%. On Monday on Wall Street, the S&P 500 climbed 1.1% for its best day since the Oct. 7 surprise attack on Israel by Hamas. Financial markets have a history of weakening initially after a geopolitical shock, such as a war, only to revert to longer-term fundamentals. FactSet estimates that earnings per share at S&P 500 companies likely rose 0.4% in the last quarter from a year earlier. Shares of Lululemon jumped 10.3% in their first trading session after S&P Dow Jones Indices said the apparel company will join its widely tracked S&P 500 index.

Persons: Germany's DAX, Dow industrials, Antony, Blinken, ” Robert Carnell, Nicholas Mapa, Brent, ”, Mark Hackett, Johnson, Tesla, Charles Schwab, Dow Organizations: CAC, Nikkei, Hamas, Dow, Nasdaq, ING Economics, New York Mercantile Exchange, Treasury, Financial, Nationwide, Bank of America, Federal Reserve, Dow Jones, Activision Blizzard, Microsoft, U.S Locations: BANGKOK, East, Paris, Asia, Hong Kong, Shanghai, Australia, Thailand, Israel, Gaza, Lebanon, Iran

☆ Goldman Sachs lifts Europe Inc's 2023 profit growth forecast to 3%
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +2 min

The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. According to Goldman Sachs, higher oil prices will feed into higher revenues, benefiting commodity-related sectors — for which analysts at the brokerage expect positive earnings upgrades. Shares of European oil majors BP (BP.L), Shell (SHEL.L) and TotalEnergies (TTEF.PA) have gained between 4.5% and 7% since the conflict began. Adjusting for inflation, however, Goldman Sachs expects earnings in Europe to fall 2% this year. Through 2025, Goldman expects European and U.S. companies' profits to grow at 5% annually from current levels, but only 2% in real terms for Europe in the same period.

Persons: Goldman Sachs, Andrew Kelly, Brent, Lilia Peytavin, Goldman, Roshan Abraham, Susan Mathew, Shilpi Majumdar Organizations: New York Stock Exchange, REUTERS, Brent, East, BP, Shell, European, Thomson Locations: New York City , New York, U.S, Europe, Bengaluru

☆ Stock Market Today: Goldman Sachs, Bank of America Earnings Beat Forecasts
▼ + stars: | 2023-10-17 | by ( ) www.wsj.com time to read: +1 min

Stock futures slipped and Treasury yields ground higher as investors weighed Wall Street earnings and the Israel-Hamas conflict. Goldman Sachs and Bank of America both beat consensus estimates for third-quarter earnings and revenue. Johnson & Johnson raised its full-year sales guidance and Lockheed Martin said it expected to grow sales this year despite the budget battle that has hit the Pentagon. Stock futures edged lower. European indexes edged lower, while Asian stocks mostly gained.

Persons: Goldman Sachs, Johnson, Lockheed Martin Organizations: Bank of America, Johnson, Pentagon, Retail, Treasury, Brent Locations: Israel

☆ As oil prices rise, these global stocks are set to outperform: Bank of America
▼ + stars: | 2023-10-17 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

The ongoing conflict between Israel and Hamas has seen oil prices jump as investors consider the risk of wider geopolitical issues across the Middle East. These rising prices will benefit a number of stocks, according to Paulina Strzelinska, quant strategist at Bank of America. Outperformers when natural gas prices rise In a separate screen, Bank of America revealed its list of companies that tend to outperform when natural gas prices rise. Equinor is listed on both the Oslo Stock Exchange and Nasdaq, while Rio Tinto is listed on the London Stock Exchange and Australian Securities Exchange. Meanwhile Anglo American has a dual listing on the London Stock Exchange and Johannesburg Stock Exchange.

Persons: Paulina Strzelinska, Brent, Duncan Wanbald, — CNBC's Michael Bloom, Sam Meredith Organizations: Hamas, Bank of America, Bank, Boliden, Royce, Aegon, Galp Energia, Wolters Kluwer, London Stock Exchange, Oslo Stock Exchange, Nasdaq, Rio Tinto, Australian Securities Exchange, Johannesburg Stock Exchange, Reuters Locations: Israel, Europe, Antofagasta, Spanish, Portuguese, Dutch, Rio Tinto, Rio, American, Johannesburg

☆ Oil prices gain as concerns mount over Middle East tensions
▼ + stars: | 2023-10-16 | by ( Laura He | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Oil prices rose above $91 a barrel on Monday as diplomatic efforts to address the crisis in the Middle East intensified. The “Middle East risk” is dominating the landscape for global asset prices, said Stephen Innes, managing partner for SPI Asset Management. “The ongoing conflict could weigh even further on the global oil supply over time by potentially reducing the probability of Saudi-Israeli normalization and posing downside risks to Iranian oil production, leading to a further surge in oil prices,” he said. Global oil prices had increased for months as production cuts by Saudi Arabia and Russia fueled worries about reduced global supply. New US measures, unveiled last week, aimed at raising the cost of Russia’s attempts to skirt a cap on the price of its oil might have also driven oil prices higher.

Persons: Jake Sullivan, ”, Stephen Innes Organizations: Hong Kong CNN, Investors, Brent, Texas Intermediate, CBS Sunday, US National, ANZ Research, Hamas Locations: Hong Kong, Middle, Israel, Gaza, Iran, Saudi, Saudi Arabia, Russia, Israel’s

NEW YORK (AP) — Shares fell in Asia as investors braced Monday for an expected invasion by Israel in the Gaza Strip. On Friday, the price of a barrel of benchmark U.S. crude oil jumped $4.78 to settle at $87.69. Early Monday, U.S. crude oil was unchanged while Brent was up 3 cents at $90.92 a barrel. Worries about the war pulled Treasury yields lower, which often happens when investors head for safer investments during times of stress. The yield on the 10-year Treasury fell to 4.63% from 4.70% late Thursday.

Persons: —, Israel, Brent, Korea's Kospi, Australia's, Wells, JPMorgan Chase, Jamie Dimon, Todd Vasos Organizations: Economics, Markets, Nikkei, Nasdaq, Dow, Treasury, United Nations, Federal Reserve, JPMorgan Chase, JPMorgan, UnitedHealth, Wall, Dollar, U.S . Locations: Asia, Israel, Gaza, U.S, Hong Kong, Shanghai, Wells Fargo

☆ CNBC Daily Open: Big banks’ big profits aren’t likely to last
▼ + stars: | 2023-10-16 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Separately, Mārtiņš Kazāks, one of the European Central Bank's more hawkish members, told CNBC he was "quite happy" with current rate levels. The bank's third-quarter earnings rocketed 60% and revenue rose 6.5% from a year earlier, boosting its shares by 3.07%. Wall Street banks like Goldman Sachs and Bank of America report earnings Tuesday, followed by regional banks — and Morgan Stanley — on Wednesday.

Persons: Mārtiņš Kazāks, Jamie Dimon, we're, Wells, Wells Fargo, Goldman Sachs, Morgan Stanley — Organizations: CNBC, Dow Jones, European, JPMorgan JPMorgan Chase's, Citigroup, Wells Fargo, Wall, U.S . West Texas Intermediate, Brent, International Energy Agency, Bank of America Locations: Israel, —

☆ Morning Bid: Stocks ease in nervous Gaza wait
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +3 min

Israeli soldiers gather on and around a tank near Israel's border with the Gaza Strip, in southern Israel October 15, 2023. ECB speakers are out in force this week, including Bank of Spain Governor Pablo Hernández de Cos on Monday, when the euro zone also releases trade data. It will be a busy week for BoE rhetoric as well, starting with the central bank's chief economist, Huw Pill, on Monday. There's lots of important British data, with house prices later today, jobs and wage figures on Tuesday, and CPI on Wednesday. Fed Chair Jerome Powell's speech at the Economic Club of New York this Thursday, just before the start of the central bank's blackout period, is probably the most anticipated bit of central bank speak for the week.

Persons: Ronen, Kevin Buckland, Brent, Antony Blinken, Joe Biden, Pablo Hernández de Cos, BoE, Huw Pill, Jerome Powell's, Goldman Sachs, Morgan Stanley, Cos, Edmund Klamann Organizations: REUTERS, Japan's Nikkei, Bank of Spain, U.S . Federal Reserve, Economic, of New, Netflix, Thomson Locations: Gaza, Israel, Iran, Asia, Europe, of New York, U.S

☆ Nervous markets eye Gaza as oil hovers above $90
▼ + stars: | 2023-10-16 | by ( Kevin Buckland | ) www.reuters.com time to read: +2 min

Netanyahu agreed to lift a blockade of water supplies to parts of southern Gaza after speaking with U.S. President Joe Biden. Brent crude futures reached a new recent high of $91.20 on Monday before easing back slightly to $90.84, following Friday's 5.7% surge. Japan's Nikkei share average (.N225) fell more than 1%, while Australia's S&P/ASX 200 index (.AXJO) lost 0.15% in early trading. On Friday, the pan-European STOXX 600 index (.STOXX) lost 0.98 and New York's S&P 500 (.SPX) declined 0.50%, although U.S. stock futures pointed 0.18% higher on Monday. Currencies overall retraced some of their moves from the end of the week, with the U.S. dollar index easing slightly to 106.55 from as high as 106.79 on Friday.

Persons: Androniki, Israel's shekel, Benjamin Netanyahu, Antony Blinken, Netanyahu, Joe Biden, Australia's, Chris Weston, Kevin Buckland, Lincoln Organizations: Nikkei, REUTERS, Rights, U.S, Brent, Treasury, Thomson Locations: Tokyo, Japan, Gaza, Israel

☆ Oil, Treasuries, gold prices jump amid Mideast fears
▼ + stars: | 2023-10-13 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. Spot gold added 3.2% on the day to $1,928.99 an ounce, and had its biggest weekly percentage gain since March. "Everything that's going on in the Middle East is getting more and more unfortunately depressing and seems to have the potential to get worse," he said. The pan-European STOXX 600 index (.STOXX) lost 0.98% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.81%. The dollar was also helped by safe-haven buying driven by the escalating Middle East conflict.

Persons: Brendan McDermid, Treasuries, Brent, Marvin Loh, Herbert Lash, Ankur Banerjee, Naomi Rovnick, Marguerita Choy, Richard Chang Organizations: New York Stock Exchange, REUTERS, Companies, Treasury, JPMorgan, Dow Jones, Nasdaq, Thomson Locations: New York City, U.S, Israel, Gaza, Boston, New York

SINGAPORE/LONDON Oct 13 (Reuters) - Global shares slipped on Friday while assets considered to be safer havens such as gold and U.S. Treasuries rose as traders retreated from market risk as conflict in the Middle East intensified. MSCI's broadest index of global equities (.MIWD00000PUS) fell 0.3%, while Europe's Stoxx 600 share index (.STOXX) slid 0.4%. Brent crude oil futures jumped 2.7% on Friday to $88.29 a barrel, on track for a 4.3% advance this week. Spot gold gained 0.8% on Friday to $1,885 an ounce, set for a gain of 2.4% over the week. The risk-off mood also prevailed in the currency market, with the dollar holding on to most overnight gains.

Persons: Trevor Greetham, Treasuries, Ankur Banerjee, Naomi Rovnick, Edwina Gibbs, Susan Fenton, Kim Coghill Organizations: Asset Management, Federal Reserve, Treasury, Bank of Japan, Nikkei, Thomson Locations: SINGAPORE, Middle, Gaza, Hamas, Ashkelon, Israel, Brent, U.S, Baltic, Asia, Japan, MIAPJ0000PUS

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