"Futures are trading flat as we hit the mid-point of the trading week, and while we didn't see the snapback rally that was the star of the show Monday, at least all four major indices held their own as the conflict in Iran grinds on. The Nasdaq was able to eke out a tiny gain on Tuesday, closing at 22,697, up 0.01%, while the Dow Jones Industrial closed down just 0.07% at 47,706."
"Yields moved higher across the Treasury curve as investors continued to monitor the impact of Middle East tensions on oil prices and to digest President Trump's comments on the progress and path of the military in Iran. The 30-year long bond closed the day at 4.79% while the benchmark 10-year note was last seen at 4.16%."
"Prices across the energy complex were lower yet again as traders who caught the huge move higher and put on positions before the U.S. attacks continue to take money (and some big gains) off the table. Brent Crude finished trading on Tuesday at $90.90, down 8.14%, while West Texas Intermediate finished the session at $86.39, down 8.84%."
Stock market indices showed minimal movement on Tuesday, with the Nasdaq gaining 0.01%, while the Dow Jones, S&P 500, and Russell 2000 declined slightly. Treasury yields increased across the curve as investors assessed Middle East tensions and their impact on oil prices. The Treasury Department continued bond buyback operations targeting the 7-year to 10-year maturity sector to support liquidity. Energy prices fell significantly as traders closed profitable positions established before recent U.S. military actions. Brent Crude dropped 8.14% to $90.90 and West Texas Intermediate fell 8.84% to $86.39. Natural gas declined 1.92% to $3.06. A swift resolution to Iran tensions could help reduce oil prices and mitigate inflation pressures.
Read at 24/7 Wall St.
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