Crude tumbled more than 4% to a near two-week low on Tuesday due to that weaker outlook and after a media report said Israel would not strike Iranian nuclear and oil sites, easing fears of supply disruptions.
While U.S. oil prices tried to retain a toehold on $70 per barrel on Wednesday, they continue to track year-on-year losses of close to 20% and remain a powerful force depressing headline annual inflation rates.
Back on Wall St, the chip sector wobble cut across better news from the banks.
Bank of America shares rose 0.5% following a third-quarter profit beat, while Charles Schwab shares climbed 6% after exceeding estimates.
Citigroup, however, fell 5% after it reported mixed results with net income declining and net interest income weaker than expected while debt underwriting propped up its investment banking results.
Morgan Stanley and some of the small regional banks are up next on Wednesday.
Wall St futures more broadly are slightly higher before the open.
Aided in part by sterling's slide, the dollar index nudged to its best levels since early August.
As the U.S. election campaign enters its final phase, betting markets put Republican Donald Trump as the slightly favorite to return to the White House, despite opinion polls showing a tight race between him and Democrat rival Kamala Harris.
Trump on Tuesday defended his protectionist trade policies and other fiscal proposals in an interview with Bloomberg, dismissing suggestions that they could drive up the federal debt.
He appeared to back away from previous comments that as president, he should be able to exert control over the Fed's interest rate decisions.
"I think I have the right to say I think you should go up or down a little bit," Trump said, referring to setting interest rates. "I don't think I should be allowed to order it, but I think I have the right to put in comments as to whether or not the interest rates should go up or down."
How Trump plans to weaken the dollar, however, remains a bit of mystery beyond his well-flagged tariff plans.
0 comentários:
Postar um comentário