Blinken's diplomatic mission, corporate earnings, Rite Aid - what's moving markets
Investing.com — U.S. Secretary of State Antony Blinken seeks to limit the extent of the conflict in the Middle East, while the focus on Wall Street turns to the new quarterly corporate earnings season. Rite Aid has filed for bankruptcy while crude prices consolidate after recent hefty gains.
U.S. Secretary of State Antony Blinken returns to Israel on Monday as part of a concerted diplomatic attempt to ensure Israel's conflict with Palestinian militant group Hamas does not spillover elsewhere in the region.
Israel has imposed a strict blockade on the Gaza region as it carries out a heavy bombardment in preparation for a ground invasion.
Blinken has already visited Qatar, Jordan, Bahrain, United Arab Emirates, Saudi Arabia and Egypt in an attempt to limit the scope of the conflict.
However, tensions are rising as Iran, which backs Hamas, the dominant power in Gaza, warned Israel of escalation if it kept attacking Palestinians.
«If the Zionist aggressions do not stop, the hands of all parties in the region are on the trigger,» said Iranian Foreign Minister Hossein Amirabdollahian, adding that Tehran could not simply stay an observer.
“We are on the verge of the abyss in the Middle East,” United Nations Secretary-General Antonio Guterres warned in a statement Sunday.
U.S. stock futures edged higher Monday, at the start of a busy week for quarterly corporate earnings.
At 05:00 ET (09:00 GMT), the Dow futures contract added 100 points or 0.3%, S&P 500 futures climbed by 10 points or 0.2%, and Nasdaq 100 futures inched up by 15 points or 0.1%.
The third quarter earnings season picks up steam this week [see below], with several major U.S. companies expected to show an improvement in profit growth after a tepid first half.
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