r/stocks Apr 13, 02:42 PM
Markets open shaky this morning. At the Open: Futures were down early this Monday morning, giving back some of last week’s gains, and the main reason is pretty simple: oil is back over $100.
Over the weekend, U.S. – Iran talks didn’t go really anywhere, and now there’s still a pretty big gap of any sort of resolution between both sides; AND, the White House moved to block the Strait of Hormuz, which is a huge deal since a huge portion of the world’s oil flows through there. That’s what’s pushing oil prices up so quickly.
Now, some people on Wall Street think the blockade might just be a pressure move for negotiations, not something necessarily permanent. But either way, markets hate uncertainty, and that’s exactly what this is.
On the earnings side, Goldman Sachs dropped even though profits were solid, mainly because bond trading revenue came in weaker than expected. More big banks report later this week, so that’ll definitely matter as well.
Also worth noting: Treasury yields are rising again, which adds even more pressure on stocks.
What do you guys think? Is this setting up to be another interesting week in the market?
submitted by /u/Massive_Bit_6290
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