Oil Price Surges, Dow Drops
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2don MSN
Oil prices surged and Asian shares were lower Friday after Israel struck Iranian nuclear and military targets in an attack that raised the risk of all-out war between them. U.S. benchmark crude oil rose by $3.
The Dow Jones Industrial Average (DJINDICES: ^DJI) index edged 3.9% higher in May, with 70% of its 30 constituent stocks ending the month in positive territory. However, the two worst-performing Dow stocks in May -- both from the healthcare sector -- kept the index's rally in check, with one of them plunging over 25%.
Stock futures fell sharply early Thursday, pointing to a rocky open as Wall Street grapples with a tragic plane crash involving Dow component Boeing (BA) and digests a blockbuster earnings report from software giant Oracle (ORCL).
The blue-chip Dow Jones Industrial Average was headed for its worst daily drop in almost a month on Friday as the Israel-Iran conflict rattles investors, after easing back from session lows. The Dow was down about 774 points,
Markets rebounded after Trump said his administration intends to send letters to US trade partners to formally establish new tariff terms.
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The U.S. stock market ended sharply lower Friday, with all three major benchmarks under pressure as tensions in the Middle East ran high amid missile strikes between Israel and Iran. The Dow Jones Industrial Average dropped 769.
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S&P 500 futures moved lower on Thursday evening ahead of a key jobs report that is expected to shed light on the health of the U.S. economy. S&P 500 futures ticked down 0.2%. Futures for the Dow Jones Industrial Average were little changed, while Nasdaq 100 futures shed 0.4%.
A Canadian court has ordered Nova Chemicals to pay Dow an additional amount of C$1.62 billion ($1.2 billion) in damages incurred from the companies' jointly owned ethylene asset in Joffre, Alberta, Dow said on Wednesday.
Shares of Sherwin-Williams Co. and Visa are trading lower Friday afternoon, propelling the Dow Jones Industrial Average selloff. The Dow was most recently trading 822 points, or 1.9%, lower, as shares of Sherwin-Williams Co.