Dow and Nasdaq Futures Tumble Following Hamas Attack on Israel, Oil Prices Soar

 

US Markets: Dow and Nasdaq Futures

 

The US Future indexes, Dow, and Nasdaq futures are trading lower on Monday, the sentiments were hit as Palestinian militants attacked Israel on Saturday, which spiked the crude oil prices. The geopolitical situation between Israel and Palestine escalated into a full-blown war in the last two days after the militant group Hamas attacked Israel deliberately killing civilians and taking people hostages.

The US stock markets closed higher on Friday after initial volatility due to stronger-than-expected job reports are likely to open in red on Monday, as the US futures indexes are trading in the deep red at this moment. 

On Friday, the US stock market indexes, the Dow and Nasdaq composite pared early losses and staged an upside reversal, while a number of stocks also turned positive and flashed buy signals. The indexes and stocks are likely to open in the red on Monday due to geopolitical issues. However, the overnight action in Dow and Nasdaq futures doesn’t always translate into actual trading in the next regular markets.

The Dow Jones future is trading lower by 189 points or 0.56 percent while S&P 500 futures is down by 27 points or 0.62 percent. The Nasdaq futures index is trading negatively by 100.25 points or 0.66 percent at 2.25 pm IST or 5 am ET.

 

European Markets Today

 

European stock market indexes opened lower as investors remained cautious and assessed the impact of geopolitical tension after Palestinian militants attacked Israel.

The pan-European Stoxx 600 index is trading slightly higher by 0.17 percent. The key indexes, CAC and DAX are trading lower by 0.45 percent and 0.52 percent respectively. The UK’s FTSE is trading slightly higher by 0.26 percent at 9 AM GMT.

 

Asian Stock Markets Today

 

The other Asian stock markets ended mixed on Monday, as investors are looking ahead to the economic data from China. The geopolitical turmoil in the Middle East also hit market sentiments in the region. China resumed trading after a weeklong holiday, Shanghai index closed lower by 0.44 percent. 

Japan’s Nikkei, South Korea’s Kospi, and Taiwan are not trading today due to a holiday, while Hang Seng ended slightly higher by 0.18 percent. Australia’s S&P/ASX 200 trimmed some early gains and ended higher by 0.23 percent,  snapping a five-day losing streak. Elsewhere, the Straits Times and SET Composite closed lower while the Jakarta Composite is trading higher.

In India, stock market indices extended their early losses, Sensex and Nifty are down by 0.63 percent and 0.64 percent respectively. The Bank Nifty is trading lower by 0.94 percent at 2.30 pm IST. 

The broader markets are underperforming their larger peers, as the Nifty mid and smallcap indexes are trading lower by 1.33 percent and 1.61 percent respectively.

 

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Happy Investing!

Editor’s Desk