U.S. Futures Steady With Stocks as Oil Surges: Markets Wrap

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Bloomberg 06 July, 2021 - 05:57am 27 views

Are markets closed July 5?

Is the U.S. stock market closed for the Fourth of July weekend 2021? The New York Stock Exchange and Nasdaq were open on Friday and will be closed on Monday. U.S. over-the-counter markets and U.S. bonds markets closed early at 2 p.m. on Friday and will be closed on July 5. Barron'sIs the Stock Market Open Today? Here Are the Hours for the Fourth of July 2021.

Is the stock market open on Monday?

The NYSE is open from Monday through Friday 9:30 a.m. to 4:00 p.m. Eastern time. The NYSE may occasionally close early, either on a planned or unplanned basis. standard.comStock Market and Bank Holidays | The Standard

Oil Price Spike Risks Wider Market Swings Amid Inflation Fears By Bloomberg

Investing.com 06 July, 2021 - 07:00am

(Bloomberg) -- A spike in oil prices risks fanning wider moves across asset classes should inflation-sensitive investors believe the crude market will tighten further after OPEC+ failed to agree on a deal to increase production.

The surprise breakdown in talks means tighter supply conditions for crude and upward pressure on prices -- at least in the near term -- adding fuel to the wider inflationary concern that’s challenged central banks and roiled risk assets. Brent crude futures rose above $77 for the first time since 2018 this week, sending global energy shares higher.

Benchmark 10-year Treasury yields ticked two basis points higher Tuesday, after reopening from a holiday, and the yield curve steepened.

“The crude oil rally neatly encapsulates the broader reflation narrative,” said Ilya Spivak, head of greater Asia at DailyFX. A renewed surge could amplify the Federal Reserve’s sense of urgency to tighten monetary policy, leading to a “broad risk-off turn that pulls down shares, oil and other sentiment-sensitive assets,” he said.

After several days of tense talks, OPEC and its allies abandoned their Monday meeting. A disagreement over how to measure production cuts upended a tentative deal to boost output and swiftly devolved into an unusually personal and public spat between Saudi Arabia and the UAE.

OPEC+ in Crisis as Specter of Harmful Infighting Looms Again

Still, the relatively modest reaction in other markets so far suggest investors are also cautious over the longer-term implications of the OPEC+ crisis. If the UAE were to leave the cartel, there is a risk producers would ramp up supply and ultimately send crude oil lower.

By John Chalmers BRUSSELS (Reuters) - The European Union urged London on Tuesday to consider a Swiss-style veterinary agreement with Brussels on agri-foods to end a post-Brexit...

By Gina Lee Investing.com – Gold was up on Tuesday morning in Asia and was close to a two-week high. A weaker dollar also gave the yellow metal a boost and investors await the...

(Bloomberg) -- Gold edged toward a fifth daily gain as investors mulled the economic outlook before Federal Reserve minutes that will be scanned for clues on U.S. monetary...

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