Oil Rises Above $84 as Stock Futures Hold Steady on Iran Strait Tensions
Updated
Updated · Investor's Business Daily · Aug 10
Oil Rises Above $84 as Stock Futures Hold Steady on Iran Strait Tensions
3 articles · Updated · Investor's Business Daily · Aug 10
Summary
U.S. stock-index futures were little changed early Monday even as oil extended gains, with Dow, S&P 500 and Nasdaq contracts holding near flat.
Brent had already climbed above $84 a barrel after Iran demanded U.S. concessions to reopen the Strait of Hormuz, keeping energy markets on edge.
That resilience in futures comes as the stock rally remains intact and investors turn to a heavy earnings week featuring Cisco, Lumentum and Applied Materials.
Berkshire Hathaway also beat expectations on Saturday, offering a supportive backdrop as markets weigh whether higher oil from the Iran standoff will pressure equities.