US Equity Markets End Lower After Crude Oil, Government Bond Yields Rise Following US-Iran Military Escalation

MT Newswires Live
3 hours ago

US equity indexes ended lower Monday after crude oil prices and government bond yields rose following US-Iran military escalation.

* Iran and the US traded attacks for the first time in over a month overnight into Monday, CNN reported. Iran said it attacked US bases in Jordan and US military targets at the Al Minhad airbase in the United Arab Emirates after US forces bombed two rocket launchers on Iran's Larak Island, according to a report from Al Jazeera.

* The Dallas Fed's monthly manufacturing index jumped to 11.6 in August from 1.3 in July, above expectations for 1.6 in a survey compiled by Bloomberg, indicating a faster pace of expansion.

* October West Texas Intermediate crude oil rose $2.58 to settle at $85.98 per barrel, while November Brent crude, the global benchmark, was last seen up $2.35 at $90.45.

* Tesla (TSLA) is selling a simplified version of Model 3 at a lower price in Hong Kong and Macau than in mainland China, according to media reports and the company's regional websites. Shares were up about 5.5%, the top gainer on the S&P 500 and Nasdaq.

* Shares of PG&E (PCG) and Edison International (EIX) were down over 20%, the worst performers on the S&P 500, after ABC7 reported Sunday that California amended legislation to protect wildfire survivors' right to sue utilities for equipment-caused blazes.

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