US markets saw oil surge to its highest since May on Iran war fears, gold fall $24 to $3999, S&P 500 down 0.5%, and 10-year yields rise to 5.00%, alongside mixed US and Canadian data releases.

InvestingLive10/24, 03:05 AM

Figures as quoted by InvestingLive

Market impact

Which way this story pushes each asset. An inference from the story, not a measured move.

WTI
Pushes up
DaysMedium confidence
Iran war fears raise a geopolitical risk premium on crude supply, pushing WTI higher.
Gold
Pushes down
IntradayMedium confidence
Rising 10-year yields raise the opportunity cost of holding gold, pressuring it despite war fears.
S&P 500
Pushes down
IntradayMedium confidence
Higher oil costs and rising yields weigh on equity valuations.

What could change this

If Iran tensions ease or no actual supply disruption occurs, the oil risk premium could unwind quickly.

3,996.90-0.56%vs previous close

This story

10/23, 11:40 PM10/24, 04:55 AM