Oil tops $80 as US strikes Iran; ASML, Morgan Stanley lead earnings
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Oil prices rose above $80 a barrel on Monday after the U.S. launched new attacks against Iran. Chip-equipment maker ASML and Morgan Stanley were among the top earnings movers, lifting Nasdaq futures. Investors weighed the geopolitical risk against strong corporate results.
Oil Price Surge
Brent crude futures climbed above $80 a barrel for the first time in weeks after the U.S. military launched strikes against Iranian targets, according to Reuters. The attack marks an escalation in the Middle East conflict, raising concerns about supply disruptions from the region. Oil prices had been trading near $76 before the news broke.
Earnings Movers
ASML, the Dutch semiconductor equipment maker, reported better-than-expected quarterly orders, sending its shares up 3% in premarket trading. Morgan Stanley posted a 12% rise in profit, beating analyst estimates, driven by strong trading and investment banking revenue. PayPal also jumped 5% after announcing a cost-cutting plan, as reported by Reuters.
Market Reaction
Nasdaq 100 futures rose 0.4% as AI-related stocks like Nvidia and AMD edged higher. The S&P 500 futures were flat, with energy stocks gaining but consumer discretionary shares under pressure. The yield on the 10-year Treasury note fell 3 basis points to 4.18% as investors sought safe-haven assets.
What's Next
The U.S. and Iran are expected to hold indirect talks through intermediaries this week, though no date has been set. It remains unclear whether the strikes will lead to a broader conflict or a diplomatic resolution.
6 sources
Oil tops $80 as US strikes Iran; ASML, Morgan Stanley lead earnings
