Stock and bond futures climb as oil drops
Futures contracts for stocks and bonds rose amid a decline in oil prices, with mixed performances across global markets following the Houthi attacks on Riyadh Airport. This brings geopolitical risks back to the forefront and raises the possibility of sustained pressure on energy prices. At the same time, gold prices climbed to their highest level in years, surpassing $4,200 per ounce, as bond yields declined, amid expectations that energy prices will continue to rise due to the unresolved Hormuz Strait crisis. Markets also anticipate a surge in U.S. inflation in September, which could prompt the Federal Reserve to raise interest rates again. Meanwhile, China and the European Union continue to improve their trade relations and reduce automobile exports amidst delays in resolving the regional crisis.
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