Oil breaks $102. Markets feel the heat
Brent crude has crossed $102 a barrel, putting fresh pressure on global markets as Middle East tensions raise concerns over inflation and energy supplies.
Stocks slip
- Asian markets moved lower
- Global equities pulled back from recent highs
- US 10-year Treasury yield climbed to 5.31%
Why it matters
Higher oil prices could keep inflation elevated and add pressure on interest rates, creating another challenge for equity markets.
Fed in focus
With inflation still above target, investors are watching closely for signs of another rate hike this year.
Corporate watch
- Samsung Electronics: Shares fell 1.3% despite reporting a record profit, as results came in below average analyst estimates.
- SK Hynix’s Solidigm: Reportedly picked lead banks for a potential US IPO next year.
- Firmus Grid: Closed the books on its IPO as investor concerns increased around the deal.
The big question
Can markets keep rallying if oil stays above $100?