U.S. stock index futures fell early on Wednesday as investors scurried to safe-haven assets after Iran fired rockets at U.S.-led forces in Iraq in response to the killing of a top Iranian commander, sparking fears of a wider war in the Middle East.
Shares of Saudi Aramco opened at 34 riyals ($9.06) on Wednesday, their lowest level since the oil giant began trading on December 11, after Iran launched missiles on U.S. targets in Iraq.
Oil prices were about 1% higher on Wednesday, but well below highs hit in a frenetic start to the trading day after a rocket attack by Iran on American forces in Iraq raised the specter of a spiraling conflict and disruption to crude flows.
The spike in oil prices due to the escalating conflict between the United States and Iran is causing investors to worry that U.S. corporate earnings will be crimped by rising energy costs. While the energy sector would benefit from higher oil prices, other sectors ranging from shipping to manufacturing to restaurants would see their profit margins compress as gasoline prices rise. Some investors said they were acting more defensively against this backdrop. …read more […]
MADRID/HANGZHOU, China (Reuters) – After years of reconnaissance, China’s retail king Alibaba is finally making its move on Europe. It is undercutting Amazon sellers’ fees to attract vendors but has had mixed results, six sources with direct knowledge of the matter said. A flood of small businesses have joined its European platform, AliExpress, in recent months but some larger brands are holding back, according to the sources. …read more […]
Several major airlines said on Wednesday they were re-routing flights to avoid airspace over Iraq and Iran after the Federal Aviation Administration banned U.S. carriers from the area following an Iranian missile attack on U.S.-led forces in Iraq.
Asian shares tumbled on Wednesday, while oil, safe-haven Treasury prices and gold shot higher after Iran fired rockets at U.S.-led forces in Iraq, stoking fears of a wider conflict in the Middle East.
The United States is making a final pitch to Britain ahead of a U.K. decision on whether to upgrade its telecoms network with Huawei equipment, amid threats to cut intelligence-sharing ties, people with knowledge of the matter told Reuters.
The spike in oil prices due to the escalating conflict between the United States and Iran is causing investors to worry that U.S. corporate earnings will be crimped by rising energy costs.
The spike in oil prices due to the escalating conflict between the United States and Iran is causing investors to worry that U.S. corporate earnings will be crimped by rising energy costs. While the energy sector would benefit from higher oil prices, other sectors ranging from shipping to manufacturing to restaurants would see their profit margins compress as gasoline prices rise. Some investors said they were acting more defensively against this backdrop. …read more […]
U.S. stock index futures fell on Wednesday as Iran fired missiles at U.S.-led forces in Iraq in retaliation to the killing of a top Iranian commander last week, sparking fears of a wider war in the Middle East.
Iran fired more than a dozen ballistic missiles on at least two Iraqi facilities hosting U.S.-led coalition personnel at about 2230 GMT on Tuesday, the U.S. military said. The attack rattled global financial markets and sent investors scurrying for safe-haven assets, with S&P futures tumbling as much as 1.7% and the benchmark U.S. 10-year Treasury yield falling to a one-month low. Investors have been on edge since Friday when a U.S. drone strike killed Qassem Soleimani, commander of Iran’s elite Quds Force, prompting a vow of harsh revenge from Iran’s Supreme Leader Ayatollah Ali Khamenei. …read more […]
(Bloomberg Opinion) — Shots have been fired in the Middle East. Whether the feud escalates or not, Japan’s defense companies may have found the catalyst they needed.Stock prices of Japanese machinery makers that also produce assault rifles, flare bombs and other military equipment surged as much as 25% Wednesday, after Iran fired rockets at two U.S. bases in Iraq in response to the American attack that killed General Qassem Soleimani. Iran’s foreign minister said his country wasn’t seeking escalation, and President Donald Trump refrained from immediately threatening retaliation. Such price movements in defense-related stocks have happened before, when tensions worsen …read more […]
Luckin Coffee Inc said it is expanding into vending machines that sell freshly brewed hot beverages and snacks, seeking even more of the China market after overtaking Starbucks Corp as the country’s biggest coffee chain by number of stores.
BEIJING/SHANGHAI (Reuters) – Luckin Coffee Inc said it is expanding into vending machines that sell freshly brewed hot beverages and snacks, seeking even more of the China market after overtaking Starbucks Corp as the country’s biggest coffee chain by number of stores. Luckin founder and CEO Qian Zhiya said the new strategy allowed it to be asset-light and nimble. Growing at breakneck speed by offering cheap delivery, online ordering and big discounts, Luckin also said it now has just over 4,500 stores across China – achieving a goal it set one year ago and topping Starbucks …read more […]
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