European equities open higher, oil and yields cap gains
European stocks opened slightly higher, but oil price gains and rising bond yields kept advances in check.
European stocks opened slightly higher, but oil price gains and rising bond yields kept advances in check.
Middle East conflict drives shipping costs to over a quarter of oil prices, keeping inflation risks alive even if crude stabilizes.
Core inflation held near 3.3% as Trumpflation spread beyond fuel, posing risks to markets.
Gold fell below $4,200 as yields rose; oil climbed on Iran tensions; Japan services PPI rose 3.7%.
US diesel prices posted a record annual gain, echoing the 2008 gasoline spike and raising concerns about persistent inflation.
Goldman Sachs says a US diesel export ban would lower American prices by 4% and raise European costs by 2%, while risking higher gasoline prices at home.
China's industrial profits rose 4.2% in August from a year earlier, the weakest monthly gain this year, as the year-to-date rate eased to 15.7%.
Falling oil could trigger a 5-10% stock rally, says strategist David Spika, as lower crude may ease inflation and bond yields.
Gold slipped on Monday as oil prices held gains due to the Strait of Hormuz standoff and higher inflation expectations, offsetting safe-haven demand.
Crude moved higher as the Globex week opened, following a weekend of deadlock and the possibility of renewed escalation.
US envoy Waltz calls Iran's Hormuz proposal a cynical bid for upfront concessions, as conflicting accounts deepen the diplomatic standoff.
Saudi authorities ordered Riyadh schools to go remote for a week; Houthis claim to have shot down a Saudi drone, raising regional tensions.
Iran holds diplomatic line amid unverified Hormuz missile strike, Trump rejects offer but sees further talks. Saudi Arabia faces widening threat from Houthiβ¦
Trump rejected Iran's seven-day ceasefire, plans more bombing after midterms. Oil and Bitcoin face uncertainty.
Iran peace talk headlines boosted risk sentiment, sending oil lower and equities higher, while yen intervention fears kept currency markets on edge.