A look at Wednesday morning’s market action
Wall Street futures were slightly lower with results from big U.S. corporate names Netflix and Tesla due later in the day. Major European markets were steady.
Earnings continue to draw focus for investors. Netflix and Tesla both report after the close of trading. Morgan Stanley and Procter & Gamble post results this morning. Overseas, the pan-European STOXX 600 was flat in morning trading. Britain’s FTSE 100 edged up 0.04 per cent. New figures released early Wednesday showed U.K. inflation holds at 6.7 per cent in September, lowest since Feb 2022, although core CPI came in above forecasts.Oil prices jumped in early trading as rising tensions in the Middle East spark concerns about the potential for supply disruptions spreading in the regions.
“Initially, markets appeared to downplay the risk of a broader conflict. However, following the explosion, several key political leaders, including the Palestinian, Egyptian, and Jordanian leaders, canceled meetings with U.S. President Biden.
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