Stock market today: World shares mostly fall, oil prices mixed as investors brace for Gaza invasion
World shares have fallen and oil prices are mixed as investors brace for an expected invasion of Gaza by Israel
BANGKOK — World shares fell and oil prices were mixed as investors braced Monday for an expected invasion by Israel in the Gaza Strip.
The future for the S&P 500 rose 0.2% and that for the Dow industrials gained 0.3%. Germany's DAX was down 0.1% at 15,168.16 and the CAC 40 in Paris declined fell less than 0.1%, to 6,999.82. Britain's FTSE 100 reversed early losses, gaining 0.3% at 7,624.99.
Israeli forces, supported by a growing deployment of U.S. warships in the region and the call-up of some 360,000 reservists, have positioned themselves along Gaza’s border and drilled for what Israel said would be a broad campaign to dismantle the militant group Hamas.
More than a million people have fled their homes in the besieged enclave in the past week, ahead of the anticipated invasion meant to eliminate Hamas’ leadership after its deadly Oct. 7 attack.
“Who can blame markets for being jittery," RaboResearch Global Economics and Markets said in a commentary. “The world now holds its breath as Israel prepares for a full-scale ground invasion of Gaza, with only unseasonal torrential rain delaying the seemingly inevitable.”
The conflict has jolted oil markets, adding to uncertainties already hanging over the global economic outlook. The Gaza region is not a major producer of oil, but the fear is that the violence could spill into the politics around the crude market and eventually lead to disruptions in the flow of petroleum, with broad ramifications for many industries.
Early Monday, U.S. crude oil edged 4 cents higher to $87.73 per barrel. On Friday, the price of a barrel of benchmark U.S. crude oil jumped $4.78 to
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