U.S. Index Futures Decline Amid Israel-Iran Tensions
April 19 2024 - 7:32AM
IH Market News
In pre-market trading this Thursday, U.S. index futures are
down, reflecting increased tensions between Israel and Iran.
S&P 500 is headed for its worst week in nearly six months,
after five consecutive sessions of decline and a weekly accumulated
decline of 2.2%. This would be the third consecutive week of losses
for the index, largely due to reduced expectations of a short-term
interest rate cut.
At 6:36 AM, Dow Jones futures (DOWI:DJI) fell 129 points, or
0.34%. S&P 500 futures were down 0.42%, and Nasdaq-100 futures
lost 0.66%. The yield on 10-year Treasury notes was at 4.569%.
In the commodities market, West Texas Intermediate crude oil for
June fell 0.63% to $86.56 per barrel. Brent crude oil for June was
down 0.61%, near $86.58 per barrel. Iron ore traded on the Dalian
exchange fell 0.34% to $120.28 per metric ton.
European markets are seeing a sharp decline this week, marked by
increased tensions in the Middle East and a reassessment of
expectations for future monetary policies. Geopolitical tension and
statements during the Spring Meetings of the International Monetary
Fund have kept investors on alert. Notably, François Villeroy de
Galhau, a voting member of the European Central Bank, expressed in
an interview with CNBC that the bank should consider a rate cut as
early as June. According to him, this measure would be crucial to
prevent a delay in responding to inflation, reflecting the
necessary caution in a period of economic and political
uncertainties.
Asian markets ended Friday with significant declines, in
response to Israel’s limited attack on Iran. Among the main
indices, the Taiwan Index registered the sharpest drop, plummeting
3.81% to 19,527.12 points, the lowest level in over a month.
Japan’s Nikkei also suffered considerable losses, retreating 2.66%.
Other markets, including the Shanghai SE in China, which fell
0.29%, the Hang Seng in Hong Kong, with a reduction of 0.99%, the
Kospi in South Korea, which decreased 1.63%, and the ASX 200 in
Australia, which retreated 0.98%, also reflected the increasing
geopolitical tension and the impact on investor sentiment.
On Thursday, U.S. stock markets had a volatile day. Despite a
positive start, the S&P 500 and Nasdaq closed down for the
fifth consecutive day, while the Dow Jones managed a small gain.
The Dow rose 22.07 points, closing at 37,775.38, an increase of
0.06%. The S&P 500 fell 11.09 points, ending at 5,011.12, a
decline of 0.22%. The Nasdaq retreated 81.87 points, closing at
15,601.50, a decrease of 0.52%. The Federal Reserve of
Philadelphia’s manufacturing activity index jumped from 3.2 in
March to 15.5 in April. Unemployment claims remained stable at
212,000. Existing home sales fell 4.3%, to an annual rate of 4.19
million.
In terms of quarterly earnings, scheduled to report on Friday
are American Express (NYSE:AXP),
P&G (NYSE:PG), Schlumberger
(NYSE:SLB), Wipro (NYSE:WIT), Fifth Third
Bank (NASDAQ:FITB), Huntington Bancshares
(NASDAQ:HBAN), Regions (NYSE:RF), Lakeland
Bank (NASDAQ:LBAI), among others.
Wipro (NYSE:WIT)
Historical Stock Chart
From Aug 2024 to Sep 2024
Wipro (NYSE:WIT)
Historical Stock Chart
From Sep 2023 to Sep 2024