Stock market today: Oil prices and defense stocks climb after Israel declares war on Hamas

NEW YORK — Oil prices are climbing Monday on worries about the possible ramifications of violence in the Middle East. The stock market is less fearful, though, and flipped from early losses to gains.

That gave stocks some oxygen and helped them erase modest losses from the morning. The S&P 500 had sagged by 0.6% in its first trading after The area under conflict is not home to major oil production, but fears that the fighting could spill into the politics around the crude market sent a barrel of U.S. oil up $3.59 to $86.38. Brent crude, the international standard, rose $3.57 to $88.15 per barrel.

Monday’s rise in crude helped oil and gas stocks to some of Wall Street's biggest gains. Marathon Oil rose 6.7%, and Halliburton climbed 6.8%. The Fed has already hiked its overnight rate to the highest level since 2001, and it indicated last month it may cut rates next year by less than earlier expected. With the Fed also continuing to shrink its trove of bond investments, the yield on the 10-year Treasury has jumped to its highest level since 2007.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: Dow Futures Fall, Oil Gains on Israel-Hamas ConflictLive coverage of what's moving stocks and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite
Source: WSJ - 🏆 98. / 63 Read more »

Stock market today: Oil gains while share prices fall after Israel strikes back at Hamas attackOil prices have surged and share prices are mostly lower after the the Israeli government declared war following deadly attacks by Hamas from the Gaza Strip. U.S. futures declined and oil prices fell back slightly after gaining more than $3 a barrel. Israel announced it was moving to support its currency, the shekel. Tokyo and several other Asian markets were closed for holidays on Monday. The bond market in the U.S. will be closed Monday for the Columbus Day holiday. On Friday, Wall Street rall
Source: AP - 🏆 728. / 51 Read more »

Stock market today: Oil prices and defense stocks climb after Israel declares war on HamasPresident Biden, his cabinet and bipartisan members of Congress are all vowing support for one of the U.S.' closest allies.
Source: WTHRcom - 🏆 329. / 59 Read more »

Stock market today: Oil prices and defense stocks climb after Israel declares war on HamasPresident Biden, his cabinet and bipartisan members of Congress are all vowing support for one of the U.S.' closest allies.
Source: fox43 - 🏆 564. / 51 Read more »