- U.S. oil prices climbed above $100 on U.S.-Iran conflict fears.
- The Dow, S&P 500 and Nasdaq fell Friday on a tech selloff, oil prices and concerns over corporate borrowing and rising interest rates.
- The Nasdaq Composite slipped 0.2% Friday as oil prices spiked on the prospect of renewed U.S.-Iran strikes.
- For the week, the S&P 500 and Nasdaq posted losses while the Dow managed a slight gain.
- Alphabet, Microsoft and Amazon report earnings this week, with a Federal Reserve policy meeting also scheduled.
- Fed funds futures imply less than a 10% chance of a rate hike this week and an 80% probability for December.
Quotes
“oil prices spiked amid the prospect of renewed strikes between the U.S. and Iran in the Middle East”
“U.S. oil prices climbing above $100 due to U.S.-Iran conflict fears”