Public Markets 3h Briefing
×Market Moves & Oil Prices
Morgan Stanley bloomberg.com turned more cautious on Asian stocks and cut its India exposure amid concerns that the Iran war may disrupt supply chains through the Strait of Hormuz. Goldman Sachs bloomberg.com noted there's "not a ton of confidence" that US security measures will resolve the situation, while Goldman's Dart bloomberg.com said Brent crude prices crossing $100 is "possible" if the strait experiences weeks of disruption.
Asian Market Impacts
Morgan Stanley bloomberg.com downgrade dealt a fresh blow to Indian stocks as foreigners rushed to sell shares amid Middle East conflict. India's energy conundrum ft.com deepens as the war hits supply, while Global banks bloomberg.com are finding that access to India's $4 trillion economy comes at a price of limited control and drawn-out returns. Vietnam's trade deficit bloomberg.com narrowed even as exports missed estimates.
US Market Developments
Bond traders bloomberg.com are scouring jobs data to gauge the Fed path amid the oil shock, with a surprise in the monthly US jobs report having the potential to upend expectations for Federal Reserve interest rates. US stock futures investing.com remain steady after Wall Street extended its selloff on the oil spike.
Company & Regional News
Sanctioned Russian LNG bloomberg.com tankers are avoiding the Mediterranean Sea after one was allegedly attacked by Ukrainian drone boats. Cathay Pacific bloomberg.com