Stocks steady but Oil prices rise

Chris Beauchamp IG

Equities remain relaxed despite heightened Mid-East tensions, but oil prices are continuing to gain, increasing worries about a new wave of price growth, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.

Stocks remain calm despite rising tensions

Friday’s bumper jobs report has allayed any lingering fears of a US recession for now, and has helped stock markets to hold their ground despite the rising tensions across the Middle East. Investor calm is likely due to hopes that the delayed Israeli response to Iran means that Tel Aviv will avoid escalating the conflict much further.

Oil keeps on rising

Admittedly oil prices are continuing to rise on expectations of a much tighter outlook for supply and demand. Having had a couple of months focusing on US job market weakness, we could be pivoting back to inflation-watching, though the spike is unlikely to show up much in this week’s data.

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Chris Beauchamp

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