Oil jumps as U.S. strikes Iranian launchers near Strait of Hormuz

  • U.S. military targeted Iranian rocket launchers near the Strait of Hormuz.
  • The Dow gained 2.05% in August, while the S&P 500 rose 2.96%.
  • Investors await Friday’s August jobs report and this week’s corporate earnings.

U.S. stock futures slipped Monday after oil prices jumped when the U.S. military targeted Iranian rocket launchers preparing to deploy mines into the Strait of Hormuz, the first such attack in more than a month. Investors also assessed Federal Reserve Chair Kevin Warsh’s renewed commitment to lowering inflation, strengthening expectations for an interest rate hike in September. The Dow has gained 2.05% in August and is on course for a fifth straight monthly advance, while the S&P 500 and Nasdaq Composite have risen 2.96% and 4.05%, respectively, supported by technology stocks. Markets are awaiting Friday’s August jobs report for additional signals on the economy. Broadcom, Dell, Palo Alto Networks and Snowflake are among the companies scheduled to report earnings this week.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.
Oil jumps as U.S. strikes Iranian launchers near Strait of Hormuz - CoinPost Terminal