Public Markets 8-Hour Briefing
×Global Markets
US stock futures steadied after Wall Street extended its selloff amid rising oil prices. The Dow Jones Industrial Average turned negative for 2026 as the Iran conflict roiled traditional economic indicators. Goldman Sachs indicated oil markets lack confidence in US security measures to protect vessels in the Strait of Hormuz.
Commodities & Energy
Brent crude could potentially reach $100 per barrel if the Strait of Hormuz experiences several weeks of disruption, according to Goldman. Oil prices surged while stocks fell as the Iran war widened. Saudi Arabia hiked Asian oil prices for April by the most since August 2022 as the Middle East conflict effectively closed the Strait of Hormuz. Gold is set for a weekly loss as dollar strength outweighs haven demand.
Regional Markets
Asian stocks pared losses as the dollar weakened and oil prices fell. Asia's $8 trillion in foreign-exchange reserves give central banks more firepower to defend their currencies against energy price increases. Singapore dollar strengthened against its US counterpart on possible position adjustments before US data.
Central Banks & Policy
Bond traders are scouring jobs data to gauge the Federal Reserve's path amid the oil shock. Rate cut bets are unraveling across developing Asia due to the oil surge. The Iran war threatens to unleash a wave of global inflation, with Europe particularly vulnerable to sustained higher energy prices.