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Economic Times
13-06-2025
- Business
- Economic Times
Stocks sell off, oil surges as Israel strikes Iran
Israel reportedly struck Iran, triggering market turmoil amid already heightened tensions over Iran's nuclear program and U.S. efforts to curb it. Oil prices surged, while stocks fell as investors sought safe-haven assets like the yen and U.S. Treasuries. Analysts are closely watching for further escalation and potential impacts on global oil supply. Tired of too many ads? Remove Ads QUOTES: MATT SIMPSON, SENIOR MARKET ANALYST, CITY INDEX, BRISBANE: Tired of too many ads? Remove Ads JESSICA AMIR, MARKET STRATEGIST, ONLINE TRADING PLATFORM MOOMOO, SYDNEY: HIROFUMI SUZUKI, CHIEF FX STRATEGIST, SMBC, TOKYO: TONY SYCAMORE, ANALYST, IG, SYDNEY: Tired of too many ads? Remove Ads KARL SCHAMOTTA, CHIEF MARKET STRATEGIST, CORPAY, TORONTO: CHARU CHANANA, CHIEF INVESTMENT STRATEGIST, SAXO, SINGAPORE: Israel said early on Friday that it struck Iran, and Iranian media said explosions were heard in Tehran as tensions mounted over U.S. efforts to win Iran's agreement to halt production of material for an atomic U.S. officials who spoke on condition of anonymity said there was no U.S. assistance or involvement in the operation. MARKET REACTION : U.S. stock futures fell more than 1%, oil prices jumped and U.S. Treasuries rose. The U.S. dollar, Japanese yen and Swiss franc rallied."A surge of one-way volatility to the demise of risk appetite is playing out on reports of Israel's strike on Iran, with traders pushing the yen, Swiss franc and gold higher while global index futures point lower."Oil prices surged 6% in minutes on supply concerns, taking its 3-day total to 12.3%. This could keep volatility elevated heading into the weekend, with traders likely wanting to hedge gap risks for next week.""We've seen equities stalling for some time, and it just appears that this is the catalyst that will probably send equities down lower. Stocks are up 30% globally, and you've got the MSCI World Index at a record, so there's room for fat to be taken off the table."What's going to continue to soar higher is, obviously, the defensive sectors, so utilities, energy, and also defence (companies) themselves."The (Middle East) region is a huge supplier of oil and obviously there's now the thinking that some of that supply could be cut off at a time when we've got demand really starting to pick up.""The situation in the Middle East has further deteriorated, and the heightened geopolitical risks are being strongly felt in the FX market. With the rise in risk-off sentiment, the Japanese yen is likely to be bought. The USD/JPY exchange rate is seeing the 140 yen level, observed in April, as a potential support level.""I thought Israel might give Iran the benefit of the doubt ahead of weekend talks with the U.S., but they've obviously decided to go it alone."While details are sparse regarding the targets, risk asset markets are not in the mood to wait and find out."This morning's alarming escalation is a blow to risk sentiment and comes at a crucial time after macro and systematic funds have rebuilt long positions and investor sentiment has rebounded to bullish levels. While we await further news and a potential response from Iran, we are likely to see a further deterioration in risk sentiment as traders cut risk seeking positions ahead of the weekend.""Traders are scurrying for safety as reports of a strike on Iran cross the wires, but details on the scale and magnitude of the attack remain scarce and moves have been relatively limited thus far.""The geopolitical escalation adds another layer of uncertainty to already fragile sentiment."The key question now is whether this marks a brief flare-up or the beginning of broader regional escalation. If the situation de-escalates quickly, markets may retrace some of the initial moves. But if tensions rise - particularly with any threat to oil supply routes - the risk-off mood could persist, keeping upward pressure on crude and haven assets."
Time of India
13-06-2025
- Business
- Time of India
Stocks sell off, oil surges as Israel strikes Iran
Israel reportedly struck Iran, triggering market turmoil amid already heightened tensions over Iran's nuclear program and U.S. efforts to curb it. Oil prices surged, while stocks fell as investors sought safe-haven assets like the yen and U.S. Treasuries. Analysts are closely watching for further escalation and potential impacts on global oil supply. Tired of too many ads? Remove Ads QUOTES: MATT SIMPSON, SENIOR MARKET ANALYST, CITY INDEX, BRISBANE: Tired of too many ads? Remove Ads JESSICA AMIR, MARKET STRATEGIST, ONLINE TRADING PLATFORM MOOMOO, SYDNEY: HIROFUMI SUZUKI, CHIEF FX STRATEGIST, SMBC, TOKYO: TONY SYCAMORE, ANALYST, IG, SYDNEY: Tired of too many ads? Remove Ads KARL SCHAMOTTA, CHIEF MARKET STRATEGIST, CORPAY, TORONTO: CHARU CHANANA, CHIEF INVESTMENT STRATEGIST, SAXO, SINGAPORE: Israel said early on Friday that it struck Iran, and Iranian media said explosions were heard in Tehran as tensions mounted over U.S. efforts to win Iran's agreement to halt production of material for an atomic U.S. officials who spoke on condition of anonymity said there was no U.S. assistance or involvement in the operation. MARKET REACTION : U.S. stock futures fell more than 1%, oil prices jumped and U.S. Treasuries rose. The U.S. dollar, Japanese yen and Swiss franc rallied."A surge of one-way volatility to the demise of risk appetite is playing out on reports of Israel's strike on Iran, with traders pushing the yen, Swiss franc and gold higher while global index futures point lower."Oil prices surged 6% in minutes on supply concerns, taking its 3-day total to 12.3%. This could keep volatility elevated heading into the weekend, with traders likely wanting to hedge gap risks for next week.""We've seen equities stalling for some time, and it just appears that this is the catalyst that will probably send equities down lower. Stocks are up 30% globally, and you've got the MSCI World Index at a record, so there's room for fat to be taken off the table."What's going to continue to soar higher is, obviously, the defensive sectors, so utilities, energy, and also defence (companies) themselves."The (Middle East) region is a huge supplier of oil and obviously there's now the thinking that some of that supply could be cut off at a time when we've got demand really starting to pick up.""The situation in the Middle East has further deteriorated, and the heightened geopolitical risks are being strongly felt in the FX market. With the rise in risk-off sentiment, the Japanese yen is likely to be bought. The USD/JPY exchange rate is seeing the 140 yen level, observed in April, as a potential support level.""I thought Israel might give Iran the benefit of the doubt ahead of weekend talks with the U.S., but they've obviously decided to go it alone."While details are sparse regarding the targets, risk asset markets are not in the mood to wait and find out."This morning's alarming escalation is a blow to risk sentiment and comes at a crucial time after macro and systematic funds have rebuilt long positions and investor sentiment has rebounded to bullish levels. While we await further news and a potential response from Iran, we are likely to see a further deterioration in risk sentiment as traders cut risk seeking positions ahead of the weekend.""Traders are scurrying for safety as reports of a strike on Iran cross the wires, but details on the scale and magnitude of the attack remain scarce and moves have been relatively limited thus far.""The geopolitical escalation adds another layer of uncertainty to already fragile sentiment."The key question now is whether this marks a brief flare-up or the beginning of broader regional escalation. If the situation de-escalates quickly, markets may retrace some of the initial moves. But if tensions rise - particularly with any threat to oil supply routes - the risk-off mood could persist, keeping upward pressure on crude and haven assets."
Yahoo
29-05-2025
- Business
- Yahoo
Markets cheer court ruling to block Trump tariffs
SINGAPORE (Reuters) -U.S. stock futures jumped and the dollar gained against safe-haven peers including the yen and Swiss franc on Thursday, after a U.S. federal court blocked President Donald Trump's "Liberation Day" tariffs from going into effect. The Trump administration has appealed the ruling. S&P 500 E-mini futures climbed 1.5% and the U.S. currency jumped 0.7% to 145.83 yen and 0.8% to 0.8339 Swiss franc. Here are some quotes from market analysts: MATT SIMPSON, SENIOR MARKET ANALYST, CITY INDEX, BRISBANE "It seems inevitable the Supreme Court will be ordered to weigh in on this one, which makes today's news more of a speedbump than a full-drawn conclusion. But for now, investors get a breather from the economic uncertainty they love to loathe." HIROFUMI SUZUKI, CHIEF FX STRATEGIST, SMBC, TOKYO "It's certainly a blow to the Trump administration. However, it's likely that the administration will proceed with appeals and other procedures in federal court. So, this block doesn't mean that policies regarding tariffs will completely stop. "On the other hand, this is a domestic matter for the U.S., and I think that tariff negotiations will continue. "In the financial markets, there's an initial reaction of a stronger dollar and weaker yen. However, considering judicial processes like appeals, I don't expect a continuous rise in the dollar." SEAN CALLOW, SENIOR ANALYST AT ITC MARKETS, SYDNEY "The kneejerk response of markets to the CIT ruling is intriguing - rather than taking it as simple risk-on news that should benefit the likes of AUD and NZD, the U.S. dollar is the main beneficiary. "It appears as though while there must be significant caution over the ruling being overturned by higher courts, for now the weight of money is being placed on the possibility that U.S. courts prevent the White House from self-imposed economic damage, brightening U.S. growth prospects and the USD." RAY ATTRILL, HEAD OF FX STRATEGY, NAB, SYDNEY "We're just trying to work out what it might mean, but obviously the market is doing a kneejerk reaction so I guess it's reversing a lot of the moves that we've seen… you know all the direction of change has been opposite to what we have seen since Liberation Day, but it's not at all clear what this means. "The assumption is that the tariffs that have been announced and are in place will stay in place… Our assumption is President Trump will appeal this trade court's decision and he has the right to appeal... And then it will be up to the federal court and what happens there? I have no idea. So this may be an absolute storm in a teacup or potentially something more significant. "I think it's way premature basically to say that this has the potential to reverse a lot of the moves that we've seen in the last couple of months." Sign in to access your portfolio
Mint
29-05-2025
- Business
- Mint
Markets cheer court ruling to block Trump tariffs
SINGORE, - U.S. stock futures jumped and the dollar gained against safe-haven peers including the yen and Swiss franc on Thursday, after a U.S. federal court blocked President Donald Trump's "Liberation Day" tariffs from going into effect. The Trump administration has appealed the ruling. S&P 500 E-mini futures climbed 1.5% and the U.S. currency jumped 0.7% to 145.83 yen and 0.8% to 0.8339 Swiss franc. Here are some quotes from market analysts: MATT SIMPSON, SENIOR MARKET ANALYST, CITY INDEX, BRISBANE "It seems inevitable the Supreme Court will be ordered to weigh in on this one, which makes today's news more of a speedbump than a full-drawn conclusion. But for now, investors get a breather from the economic uncertainty they love to loathe." HIROFUMI SUZUKI, CHIEF FX STRATEGIST, SMBC, TOKYO "It's certainly a blow to the Trump administration. However, it's likely that the administration will proceed with appeals and other procedures in federal court. So, this block doesn't mean that policies regarding tariffs will completely stop. "On the other hand, this is a domestic matter for the U.S., and I think that tariff negotiations will continue. "In the financial markets, there's an initial reaction of a stronger dollar and weaker yen. However, considering judicial processes like appeals, I don't expect a continuous rise in the dollar." SEAN CALLOW, SENIOR ANALYST AT ITC MARKETS, SYDNEY "The kneejerk response of markets to the CIT ruling is intriguing - rather than taking it as simple risk-on news that should benefit the likes of AUD and NZD, the U.S. dollar is the main beneficiary. "It appears as though while there must be significant caution over the ruling being overturned by higher courts, for now the weight of money is being placed on the possibility that U.S. courts prevent the White House from self-imposed economic damage, brightening U.S. growth prospects and the USD." RAY ATTRILL, HEAD OF FX STRATEGY, NAB, SYDNEY "We're just trying to work out what it might mean, but obviously the market is doing a kneejerk reaction so I guess it's reversing a lot of the moves that we've seen… you know all the direction of change has been opposite to what we have seen since Liberation Day, but it's not at all clear what this means. "The assumption is that the tariffs that have been announced and are in place will stay in place… Our assumption is President Trump will appeal this trade court's decision and he has the right to appeal... And then it will be up to the federal court and what happens there? I have no idea. So this may be an absolute storm in a teacup or potentially something more significant. "I think it's way premature basically to say that this has the potential to reverse a lot of the moves that we've seen in the last couple of months." This article was generated from an automated news agency feed without modifications to text.
