Oil prices soared to above $116 a barrel on Friday, after President Trump revealed his plans to seize Iran’s Kharg Island that handles 90 percent of Iran’s oil export. Iran has been threatening of rain fire on U.S. tropps, if there is a ground attack.
Rising energy risks and escalating Middle East tensions are rattling investor sentiments.
In the Asian trading hours, gold reversed earlier losses to trade above $4,500 an ounce. Spot gold was up 0.8 percent at $4,531 an ounce.
Initial trends on the U.S. Futures Index suggest that Wall Street might open moderately up.
As of 7.35 am ET, the Dow futures were gaining 287.00 points, the S&P 500 futures were up 38.00 points and the Nasdaq 100 futures were progressing 130.00 points.
The U.S. major averages, on Friday, climbed off their worst levels, but still posted steep losses. The Nasdaq plunged 459.72 points or 2.2 percent to 20,948.36, the Dow tumbled 793.47 points or 1.7 percent to 45,166.64 and the S&P 500 slumped 108.31 points or 1.7 percent to 6,368.85.
On the economic front, the Dallas Fed Manufacturing Survey for March will be issued at 10.30 am ET. In the prior month, the General Activity Index was up 0.2.
The Farm Prices for February will be released at 3.00 pm ET. In the prior month, the prices was down 3.9 percent.
The Six-month Treasury auction will be held at
Asian stocks ended mostly lower on Monday. China’s Shanghai Composite index ended 0.24 percent higher at 3,923.29. Hong Kong’s Hang Seng index fell 0.81 percent to 24,750.79.
Japanese markets plummeted. The Nikkei average finished 2.79 percent lower at 51,885.85. The broader Topix index settled 2.94 percent lower at 3,542.34.
Australian markets ended notably lower. The benchmark S&P/ASX 200 ended down 0.65 percent at 8,461.
Business News
Wall Street Targets To Bounce Back To Positive Territory
2026-03-30 11:57:47
