BANGKOK — Crude oil prices surged while stocks were mixed on Monday after the Israeli government declared war following deadlyConflict in the Middle East often raises the specter of higher oil prices given the risk of disruptions to supplies.
Brent crude, the pricing basis for international trading, advanced $2.91 per barrel to $87.49 per barrel. Treasury yields leaped following the release of the report, and the yield on the 10-year Treasury again soared to its highest level since 2007. It was at 4.80% early Monday, up from 4.72% late Thursday.
A strong job market also carries some rewards for financial markets in the short term. It means the economy is still doing well despite high rates, which could support corporate profits.This week will bring the unofficial start to earnings reporting season for the S&P 500, with Delta Air Lines, JPMorgan Chase and UnitedHealth Group among the big companies scheduled on the calendar.
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