Global Market Resilience Amid Middle East and Oil Fluctuations
Global shares hover near record highs as Middle East tensions ease, allowing focus on U.S. inflation and potential interest rate cuts. Key indices show mixed results with gains in tech and communication sectors. Oil prices rise slightly after recent drops, while attention remains on U.S. Federal Reserve statements.
Global shares were close to record highs on Wednesday, buoyed by easing Middle East tensions and a focus on U.S. inflation and interest rate prospects. The recent ceasefire between Israel and Iran reduced the risk of disruptions in the global oil trade, calming market nerves.
During a NATO summit, President Donald Trump expressed optimism about future relations with Iran, minimizing the potential for Iran to rebuild its nuclear program. Meanwhile, Federal Reserve Chair Jerome Powell continued his Congressional testimony, providing insights into potential interest rate moves.
The S&P 500 and Nasdaq indices benefitted from gains in technology and communication services, although the Dow saw a slight decline. Brent crude futures and U.S. West Texas Intermediate prices saw upward movement, recovering from previous session lows as the market remained resilient amid global challenges.
(With inputs from agencies.)
Google News