Oil prices rise, impacting stocks before earnings
Oil prices rose over the weekend to their highest level in two weeks, with Brent crude futures surpassing $106 per barrel after the International Riyadh Airport was targeted. Reports also indicated a potential agreement between Russia and Ukraine to halt attacks on energy facilities, although details remain unclear and some parties in Washington oppose it. This rise limited gains in the U.S. stock indexes, namely the S&P 500 and Nasdaq. Meanwhile, the performance of Salesforce contributed to an upward movement in the Dow Jones. Investors are keeping an eye on earnings reports from major companies and inflation figures that will influence Federal Reserve policies. There are also concerns that rising energy prices could impact inflation and the U.S. economy.
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