Australian market set to rebound as Middle East tensions lift oil prices and Wall Street slips
The ASX is poised to edge higher after a six-week low, while oil climbs to a six-week peak amid reports of Houthi attacks on Saudi energy sites, sending U.S. indices lower.
Brent crude settled near $101 a barrel after a series of attacks in the Middle East, keeping oil prices above the $100 threshold. Asian stock indexes fell, with the MSCI Asia‑Pacific index outside Japan down around 0.4% and broader regional markets slipping. In the United States, the Dow Jones, S&P 500 and Nasdaq each posted declines ranging from about 0.3% to 0.8% as higher energy costs weighed on investors.
Treasury yields rose, with the 10‑year reaching 4.85% and the 2‑year briefly crossing 4.8%, fueling expectations of a possible Federal Reserve rate increase. Market participants are watching upcoming US inflation data for clues on monetary policy.
How this was covered
- Right-leaning outlets covered this 117h later
Why it matters
Rising oil prices and higher bond yields are pressuring inflation and could influence central‑bank decisions that affect everyday costs.
How this story developed
- Aug 19 Fed officials warn higher rates may be needed if inflation stays elevated
- Aug 26 The minutes disclosed a 9‑3 vote to hold rates at 3.6% while noting possible future hikes.
- Aug 30 Precious-metal futures fell sharply last week, with gold down about 3.8% and silver about 4%, as traders await US employment figures and Fed policy cues.
- Aug 30 ASX 200 futures are set to fall about 0.4% after US Federal Reserve comments lifted inflation worries and pushed US equities lower.
- Aug 31 Fed researchers released a study linking higher expected gasoline price growth to modest increases in one‑year inflation expectations.
- Sep 2 Senior advisors to President Trump are urging the administration to limit the Iran war until the November 3 elections, relying on economic pressure rather than expanded military action.
- Sep 3 Trump advisers have begun actively lobbying to limit escalation of the Iran war before the midterm elections.
- Sep 5 The European Central Bank is set to increase its deposit rate on Thursday, while markets debate the outlook and a senior governor may soon leave for the IMF.
- Sep 6 Gold has dropped sharply since its January peak.
- Sep 6 President Trump is reportedly weighing an end to the Iran war.
- Sep 7 Baltha creditors convened a meeting to discuss the company’s debt situation.
- Sep 9 U.S. forces destroyed five Iranian tankers, sending Brent crude above $100.
- Sep 10 Brent crude settled near $101 a barrel and Asian equity indices fell on Thursday.
- Sep 10 Oil prices have risen above $95 a barrel amid renewed Middle‑East tensions.
In this story
Related stories
16 in this thread