Futures slip amid Middle East violence, oil surges - what's moving markets
Investing.com -- U.S. stock futures slump after fresh violence over the weekend between Israel and Hamas. The conflict's geopolitical ramifications spark a jump in oil prices, adding to concerns over inflationary pressures as crucial U.S. consumer price data looms later in the week. Elsewhere, activist investor Nelson Peltz reportedly plans a push for board seats at Walt Disney (NYSE:DIS), while Citigroup (NYSE:C) agrees to sell its mainland Chinese consumer wealth unit to HSBC Holdings (LON:HSBA).
1. U.S. futures point lower amid Israel, Hamas conflict
U.S. stock futures moved lower on Monday as investors gauged the impact of the intensifying conflict between Israel and Hamas and looked ahead to fresh inflation data later this week.
At 04:51 ET (08:51 GMT), the Dow futures contract had lost 197 points or 0.6%, S&P 500 futures shed 28 points or 0.7%, and Nasdaq 100 futures fell by 107 points or 0.7%.
The Israeli-Palestinian conflict escalated to full-blown war over the weekend, as members of the Islamist group Hamas attacked several Israeli towns, killing hundreds of Israelis and abducting dozens more. In response, Israeli air strikes pounded numerous targets in Gaza, resulting in numerous casualties.
Markets were already in a fragile state as traders contended with twin worries over inflation and elevated interest rates. Data last week showed a stronger-than-expected surge in the number of jobs added by the American economy during the month, heaping on to these concerns.
Officials at the Federal Reserve will have more crucial data to consider on Thursday, when the latest consumer price figures are set to be released. Heading into the numbers, the probability that the central bank will keep interest rates steady at its
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