Nasdaq falls ahead of earnings, economic data while oil rallies
The Nasdaq Composite fell 0.44% to 27,245.90 and the S&P 500 dropped 0.06% to 7,807.24 on Monday. Market declines followed a nearly $2 per barrel surge in oil prices triggered by attacks on Riyadh international airport in Saudi Arabia. Investors are maintaining a cautious stance as they await the start of the third-quarter earnings season from major US banks and the release of upcoming economic data. While tech and broader indices faced pressure, Salesforce helped lift the Dow.
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- ✓ The Nasdaq Composite closed lower on Monday, losing 120.27 points or 0.44% to end at 27,245.90.
- ✓ The S&P 500 lost 4.30 points, or 0.06%, to finish at 7,807.24.
- ✓ Oil prices increased by nearly $2 per barrel following attacks on Riyadh international airport in Saudi Arabia.
- ✓ Investors are awaiting third-quarter earnings reports from major US banks and new economic data.
What changed
Attacks on a Saudi airport caused oil prices to jump nearly $2 a barrel, weighing on the Nasdaq.
Live updates
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Nasdaq declines as Saudi airport attacks drive oil prices higher
The Nasdaq Composite fell 0.44% to 27,245.90 and the S&P 500 dropped 0.06% to 7,807.24 on Monday. Market declines followed a nearly $2 per barrel surge in oil prices triggered by attacks on Riyadh international airport in Saudi Arabia. Investors are maintaining a cautious stance as they await the start of the third-quarter earnings season from major US banks and the release of upcoming economic data. While tech and broader indices faced pressure, Salesforce helped lift the Dow.
Why it matters
Energy price volatility often impacts equity markets by raising inflation expectations and operational costs. The start of earnings season provides the first comprehensive look at corporate health for the third quarter.
What is confirmed
- The Nasdaq Composite closed lower on Monday, losing 120.27 points or 0.44% to end at 27,245.90.
- The S&P 500 lost 4.30 points, or 0.06%, to finish at 7,807.24.
- Oil prices increased by nearly $2 per barrel following attacks on Riyadh international airport in Saudi Arabia.
- Investors are awaiting third-quarter earnings reports from major US banks and new economic data.
Still unconfirmed
- LVMH sales underwhelmed the market.
- The Kospi slumped.
What to watch next
- Third-quarter earnings reports from major US banks
- Upcoming US economic data releases
confidence 95%Sources used for this update (21)
- economictimes.indiatimes.com — Business News Live, Share Market News - Read Latest Finance News, IPO ...
- finance.yahoo.com — Yahoo Finance - Stock Market Live, Quotes, Business & Finance News
- CNBC — Stock futures are little changed with big banks set to kick off earnings season: Live updates
- Bloomberg.com — Oil Rises on Mideast Attacks, Dollar Edges Higher: Markets Wrap
- AP News — US stocks hover near their latest record in mixed trading on Wall Street
- Reuters — Oil surge keeps S&P 500, Nasdaq in check before earnings; Salesforce lifts Dow
- CNBC — Stock futures are little changed after mixed session; traders await bank earnings: Live updates
- Yahoo — Nasdaq ends lower as oil prices surge ahead of earnings, economic data
- Yahoo Finance — Stock market today: Dow, S&P 500, Nasdaq futures trade mixed with bank earnings on deck
- Investing.com — Bank earnings loom large; LVMH sales underwhelm - what’s moving markets
- MarketWatch — Stock Market Today: Dow set to jump as Nasdaq set to retreat with bank earnings; AI trade in spotlight; Kospi slumps
- www.businesstimes.com.sg — Nasdaq falls ahead of earnings, economic data while oil rallies - The Business Times
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