Oil Tops $90 After Hormuz Strike as Hike Odds Hit 57%
Oil moved above $90 after a U.S. strike near the Strait of Hormuz put one of the world’s most important energy routes back in focus. With September rate-hike odds now at 57%, the next question is whether higher energy prices or Friday’s jobs report has the bigger impact on Fed expectations.
Market Preview: Record Stocks, Jobs Miss, Hormuz Oil Risk
The U.S. economy lost 23,000 jobs in July and the S&P 500 still closed at a record 7,757, as investors read the miss as taking a September rate hike off the table. Today's preview covers the software rotation, gold's seven-week high, and the Strait of Hormuz headlines that could move oil Monday.
Oil Spikes on Hormuz Plan as Gold Nears Best Week Since Jan
A single Iranian document on Strait of Hormuz shipping sent Brent up 3.8%, pushed the 10-year yield above 4.67%, and ended the Dow's record streak — while gold ran to its best week since January. Today's preview covers the memory chip selloff, where capital is rotating, and what the July jobs report could change.
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