Stock Market Today: Stocks steady, oil slips as markets eye middle east tensions

📆 16/10/2023 13:29:00
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Investors are looking ahead cautiously to a busy week on Wall Street as tension in the middle east escalate and inflation concerns continue to clip sentiment.

U.S. equity futures nudged higher Monday, while the dollar slipped lower against its global peers and Treasury yields steadied, as investors braced for a crucial week on Wall Street while closely tracking the escalating conflict in the middle east.

The U.S. dollar index, another traditional 'flight-to-safety' trade, was marked 0.21% lower at 106.428 against a basket of its global peers while 2-year note yields were up 2 basis points at 5.065%. With the conflict isolated, at least for the moment, investors are likely to focus instead on the prospects for another Fed rate hike following the emergence of renewed inflation risks last week and minutes from the central bank's September policy meeting that suggest the need for at least one more increase between now and the end of the year.

Data from the London Stock Exchange Group suggests collective S&P 500 profits are likely to rise 2.2% from last year to a share-weighted $468.8 billion, paced by the communications services sector (which includes Google parent Alphabet

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