Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

US STOCKS-Futures slip as Iran's attack on U.S. forces heightens Middle East tensions

Published 01/08/2020, 03:49 PM
Updated 01/08/2020, 03:56 PM
US STOCKS-Futures slip as Iran's attack on U.S. forces heightens Middle East tensions

(For a live blog on the U.S. stock market, click LIVE/ or
type LIVE/ in a news window.)
* Iran fires rockets at Iraqi bases hosting U.S. forces
* U.S. not aware of casualties from the attack - official
* Trump to make statement on Wednesday
* Prices of oil, gold soar; U.S. Treasury yields dip
* Futures off: Dow 0.31%, S&P 0.11%, Nasdaq 0.24%

(Adds comments, details; updates prices)
By Sagarika Jaisinghani
Jan 8 (Reuters) - U.S. stock index futures fell early on
Wednesday as investors scurried to safe-haven assets after Iran
fired rockets at U.S.-led forces in Iraq in response to the
killing of a top Iranian commander, sparking fears of a wider
war in the Middle East.
Iran fired more than a dozen ballistic missiles on at least
two Iraqi facilities hosting U.S.-led coalition personnel, as
the burial of Qassem Soleimani, who was killed in a U.S. drone
attack on Friday, was concluding. The retaliation shook global financial markets, with S&P
futures .EScv1 tumbling as much as 1.7% and the benchmark U.S.
10-year Treasury yield falling to a one-month low. Stock markets
in Europe were also indicated lower. MKTS/GLOB
Oil and gold prices surged by about 5% and 2%, respectively,
before receding slightly as Iranian officials said that their
country did not want a war and the strikes "concluded" its
response to Soleimani's killing. O/R GOL/
President Donald Trump said in a tweet an assessment of
casualties and damage was under way and that he would make a
statement on Wednesday morning. A U.S. official said the United
States was not aware of any casualties from the strikes.
Some analysts said the attacks could provide investors an
excuse to pull back from equities after improving global
sentiment and an imminent U.S.-China trade truce recently
propelled the benchmark S&P 500 to record highs.
"We've had three months of asymmetric upward moves in the
equity markets," said Christopher Stanton, chief investment
officer at San Diego-based Sunrise Capital LLC.
"Things have become increasingly overbought. If you're an
investor, don't you want to take it easy here and back off a
bit?"
At 2:31 a.m. ET, Dow e-minis 1YMcv1 were down 88 points,
or 0.31%. S&P 500 e-minis EScv1 were down 3.5 points, or 0.11%
and Nasdaq 100 e-minis NQcv1 were down 21.25 points, or 0.24%.
Investor attention this month will also be on the Federal
Reserve's first policy meeting for 2020, where it is widely
expected to keep interest rates unchanged after three reductions
last year.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.